|Bid||13.61 x 3100|
|Ask||13.62 x 800|
|Day's Range||13.05 - 13.75|
|52 Week Range||9.51 - 18.22|
|Beta (5Y Monthly)||3.02|
|PE Ratio (TTM)||14.83|
|Earnings Date||Aug 02, 2022 - Aug 08, 2022|
|Forward Dividend & Yield||1.20 (8.25%)|
|Ex-Dividend Date||May 12, 2022|
|1y Target Est||15.43|
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The deal involves exchanging 0.113 of Diamondback Energy (FANG) share for each Rattler Midstream unit, which works out to a 17.3% premium over Rattler's May 13 closing price.
Shares of Rattler Midstream (NASDAQ: RTLR) popped 14% on Monday after the midstream oil and gas company agreed to be acquired by Diamondback Energy (NASDAQ: FANG). Diamondback created Rattler Midstream in 2018 to house its energy-focused infrastructure assets. Now, however, Diamondback CEO and Rattler general partner Travis Stice says the two businesses will be better served by operating under one corporate shell.
Rattler Midstream shares soared on Monday after the company announced that it had been acquired by Diamondback Energy in an all-stock deal that values Rattler at about $2.2 billion. Under terms of the deal, Diamondback (ticker: FANG) will provide 0.113 of its shares for each Rattler (RTLR) share outstanding that it doesn’t already own. Based on Friday’s closing prices, the exchange ratio implies a premium of 17.3% for each share of Rattler, which is a midstream energy assets limited partnership formed by Diamondback, the company said in a statement.