July 20, 2024
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Cal Resources Corp completes all-stock merger with Aera

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Long Beach-based California Resources Corporation announced July 1 that it had completed an all-stock merger with Aera Energy, one of the biggest oil and gas producers in the tri-county region. Zacks Equity Research put the value of the merger, first announced in February, at $1.13 billion. The total valuation of the deal is $2.1 billion, including debt,…

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