Diamondback To Acquire Publicly Held Common Units Of Rattler In All-stock Deal

(RTTNews) - Diamondback Energy, Inc. (FANG) and Rattler Midstream LP (RTLR) have entered into a definitive agreement for Diamondback to acquire all of the publicly held common units representing the limited partner interests in Rattler not already owned by Diamondback and its subsidiaries. Each public unitholder of Rattler would receive 0.113 of a share of common stock in Diamondback in exchange for each Rattler common unit owned.

Diamondback E&P LLC, a subsidiary of Diamondback and the holder of a majority of the outstanding units of Rattler, has voted its units to approve the deal.