KKR said to be near agreement to acquire most of Samson for $7 billion – Bloomberg

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A KKR & Co.-led group is near an agreement to buy most of Samson Investment Co., a family-owned oil and gas producer, for about $7 billion, according to two people with knowledge of the matter.

A purchase would exclude Samson’s Gulf of Mexico operations, said the people, who declined to be identified because the discussions are private. The deal, which may be announced as soon as today, is backed by $4.5 billion in committed financing from 11 lenders led by JPMorgan Chase & Co., according to another person, who asked not to be identified because the deal isn’t completed. Talks could still break down and an agreement may not be reached.

The deal would be the biggest corporate takeover by a private-equity firm this year, according to data compiled by Bloomberg. It would top the $5.7 billion takeover of Kinetic Concepts Inc. (KCI), a maker of wound-care products and hospital beds, by a group led by Apax Partners LLP, completed earlier this month.

Full story: KKR Said to Be Near Agreement to Acquire Most of Samson for $7 Billion – Bloomberg.