Bloomberg: Concho Resources bidding to acquire Clayton Williams

• Clayton Williams Energy (NASDAQ:CWEI) +8.4% AH following a Bloomberg report that Concho Resources (NYSE:CXO) is seeking to buy the company.
• CWEI has drawn interest from other suitors, according to the report, after saying last month that it had retained Goldman Sachs to help it explore options including a sale.
• CXO is viewed as a strong candidate to win a sale process for CWEI, given its relatively strong share price, which means it can outbid other suitors using its stock as currency, and it could save money by combining overlapping operations it has with CWEI in the Permian Basin.