(Bloomberg) -- Sitio Royalties Corp. agreed to acquire rival US oil and gas rights company Brigham Minerals Inc. in an all-stock merger valued at about $1.5 billion.
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Brigham investors will get 1.133 Sitio shares for each Brigham share, the companies said Tuesday in a statement.
Brigham’s shares have climbed 39% this year, giving the company a market value of about $1.78 billion. Sitio has a market value of $2.1 billion after its stock has gained 29% this year.
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