C&J Energy Services is merging with Keane Group Inc in a deal that will create a diversified oilfield services provider valued at about $1.8 billion. Upon closing of the deal, Keane and C&J will each own 50 percent of the combined company. Keane Group is backed by Cerberus Capital Management. HOUSTON, June 17, 2019 /PRNewswire/ — C&J Energy Services (“C&J”) (NYSE: CJ) and Keane Group, Inc. (“Keane”) (NYSE: FRAC) today announced that they have entered into a definitive agreement whereby the companies will combine in an all-stock merger of equals. The combined company will be positioned as an industry-leading, diversified oilfield services provider with a pro-forma enterprise value of approximately $1.8 billion, including $255 million of net debt. Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies and the Special Committee of the Keane Board, C&J shareholders will receive 1.6149 shares of Keane common stock for each share of C&J common stock owned. The merger agreement permits C&J to pay its shareholders a cash dividend of $1.00 per share prior to closing. Upon closing, Keane and C&a...