Devon Energy, WPX in Talks to Merge – USA DAILY NEWS

Devon Energy, WPX in Talks to Merge

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Devon Energy Corp. and WPX Energy Inc. are in talks to combine, according to people familiar with the matter, in a move that could help the energy companies weather a prolonged industry slump.

The companies are discussing an all-stock deal that would create an entity with a combined current market value of about $6 billion. The deal could be completed as soon as this week, assuming the talks don’t fall apart, the people said. Devon has a market value of roughly $3.4 billion, while WPX’s is about $2.5 billion.