Why Rattler Midstream Stock Jumped Today
Shares of Rattler Midstream (NASDAQ: RTLR) popped 14% on Monday after the midstream oil and gas company agreed to be acquired by Diamondback Energy (NASDAQ: FANG).
Diamondback created Rattler Midstream in 2018 to house its energy-focused infrastructure assets. The limited partnership owns and operates oil and gas pipelines, gathering systems, and processing facilities.
Now, however, Diamondback CEO and Rattler general partner Travis Stice says the two businesses will be better served by operating under one corporate shell.
Source Fool.com
