FTSE 250 (MCX) 20,350.09 -0.82%
Diversified Energy announced an agreement on Monday to acquire Maverick Natural Resources, a portfolio company of EIG, for $1.275bn.
The FTSE 250 company said the acquisition would enhance its asset base, production scale, and commodity mix, while supporting its long-term strategy of generating sustainable free cash flow and shareholder returns.
It said the deal would combine complementary asset packages, bringing together Diversified's "low-decline, capital-efficient production with Maverick's liquids-rich assets".
The acquisition was expected to result in a 95% increase in revenue and a 55% rise in free cash flow, alongside improved margins and cost synergies. The combined entity would have an enterprise value of around $3.8bn and produce approximately 1,200 million cubic feet equivalent per day, or about 200,000 barrels of oil equivalent per day.
Tech and tech-affected stocks were hit after Chinese AI company DeepSeek said it was launching a low-cost low-data assistant, hitting chip makers and investors alike.
Polar Capital Technology Trust and Allianz Technology Trust both fell sharply on the news.
Market Movers
FTSE 250 - Risers
Raspberry PI Holdings (RPI) 692.50p 4.21%
W.A.G Payment Solutions (WPS) 75.40p 3.86%
Ithaca Energy (ITH) 127.70p 3.15%
Johnson Matthey (JMAT) 1,417.00p 2.98%
Abrdn (ABDN) 150.05p 2.32%
Supermarket Income Reit (SUPR) 67.00p 2.29%
Diversified Energy Company (DEC) 1,301.00p 2.20%
Indivior (INDV) 972.00p 1.99%
WH Smith (SMWH) 1,166.00p 1.57%
Primary Health Properties (PHP) 89.90p 1.47%
FTSE 250 - Fallers
Polar Capital Technology Trust (PCT) 354.50p -7.32%
Allianz Technology Trust (ATT) 414.50p -6.85%
Trustpilot Group (TRST) 326.50p -5.50%
Baillie Gifford US Growth Trust (USA) 252.50p -4.54%
Burberry Group (BRBY) 1,128.50p -4.04%
Ninety One (N91) 148.10p -3.71%
Monks Inv Trust (MNKS) 1,290.00p -3.59%
JPMorgan Emerging Markets Inv Trust (JMG) 108.00p -3.40%
Quilter (QLT) 156.20p -3.28%
Oxford Instruments (OXIG) 2,090.00p -3.24%