Comstock Resources to acquire Covey Park in $2.2 billion dealChristian Fernsby ▼ |
Acquisition Comstock Resources
Comstock Resources said it would buy privately held natural gas company Covey Park in a deal valued at about $2.2 billion.
Dallas-based billionaire Jerry Jones, who first invested in Comstock in April last year, will infuse an additional $475 million in cash for 50,000,000 of newly issued shares of Comstock common stock.
The additional equity investment brings Jerry Jones’ total investment in Comstock to about $1.1 billion. ■
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