Chesapeake Energy (CHK) will buy Bronco Drilling Company (BRNC) for $315M, or $11/share - a 6.5%...

|About: Chesapeake Energy Corpo... (CHK)|By:, SA News Editor

Chesapeake Energy (CHK) will buy Bronco Drilling Company (BRNC) for $315M, or $11/share - a 6.5% premium to Thursday's close. The acquisition adds 22 rigs to Chesapeake's drilling operations and furthers its goal of owning two-thirds of the rigs it operates, a key aspect of its vertical-integration strategy. BRNC +6.6% premarket. (PR)