Nuverra Environmental Solutions soared nearly 40% in premarket trading as it will be acquired by Select Energy Services for $45 million

Nuverra Environmental Solutions soared nearly 40% in premarket trading as it will be acquired by Select Energy Services for $45 million.Select Energy Services (WTTR) said it agreed to acquire the provider of water disposal services to shale drillers.

Select Energy said it will exchange all of Nuverra's shares for 4.2 million shares of Select Energy class A stock in a deal valued at $45 million, net of cash and including the assumption of $20 million of long-term debt.

The transaction is expeced to be completed in Q1 2022, Select Energy said.