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Publication

Energen Corporation (NYSE:EGN) valuation and analysis of acquisition premium paid by Diamondback Energy (NYSE:FANG)

Sakabu, Timothy
Abstract
On August 14th, 2018, Diamondback Energy announced the acquisition of Energen Corporation in an all-stock deal that would convert each eligible share of Energen to .6442 shares of Diamondback. By completing a valuation using methods learned during my coursework, my thesis will work to highlight the premium paid by Diamondback during its acquisition. Valuation is a key skill that I have learned during my undergraduate coursework because it combines the quantitative along with the qualitative in order to provide a picture of what a company is worth. In my report I use the comparable company's method, the precedent transaction method and the net asset value method.
Date
2019-04-29