Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) plans to acquire drilling services company Bronco Drilling Co. Inc. (Nasdaq/GS: BRNC) for approximately $315 million, including debt, net working capital and outstanding warrants.

Chesapeake will make a cash tender offer to acquire all outstanding shares of Bronco's common stock at a price of $11 per share. The $11 per share purchase price represents premiums of 6% and 24% over the closing price of Bronco's common stock on the Nasdaq on April 14, and the average closing price for the 90-calendar day period ...