Shares of Chesapeake Energy Corp. (CHK) are falling in Tuesday trading, after an announcement the company has agreed to acquire WildHorse Resource Development Corp. (WRD) in a deal valued at about $3.977 billion. At 12:35 p.m. EDT, Chesapeake shares are down 13.71% at $3.21, on volume of 79.9 million shares, well above the 65-day average volume of 26 million. On the other side of the deal, WildHorse shares are up 2.5% to $158.88, with volume of 7.4 million shares, also above the 65-day average volume of 1.3 million. (stephen.nakrosis@wsj.com)

(END) Dow Jones Newswires

October 30, 2018 12:54 ET (16:54 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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