Vinson & Elkins has cinched another energy industry megadeal to round out 2016, representing Patterson-UTI Energy in the Houston company’s pending acquisition of Seventy Seven Energy for close to $1.76 billion. Seventy Seven Energy, based in Oklahoma City, turned to Wachtell, Lipton, Rosen & Katz.
Patterson-UTI and Seventy Seven Energy announced their definitive merger agreement Dec. 12, calling for Patterson-UTI to acquire Seventy Seven Energy in an all-stock transaction that values the Oklahoma company at roughly $1.76 billion, including about $336 million in debt.
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