APA Expects Closing Of Callon Petroleum Deal To Occur On Or About April 1, 2024
Portfolio Pulse from Benzinga Newsdesk
APA anticipates the completion of its acquisition of Callon Petroleum (CPE) around April 1, 2024. Both companies have set March 27, 2024, for shareholder votes on the deal. The Hart-Scott-Rodino Antitrust waiting period expired on February 22, 2024, indicating regulatory clearance.
February 26, 2024 | 10:54 pm
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POSITIVE IMPACT
APA is set to complete the acquisition of Callon Petroleum by April 1, 2024, with shareholder votes on March 27. Regulatory clearance has been achieved.
The completion of the acquisition is a significant step for APA, likely to enhance its market position and operational scale. The regulatory clearance removes a major hurdle, making the deal's finalization more probable. This news is expected to be positively received by the market, potentially leading to a short-term uptick in APA's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Callon Petroleum is expected to be acquired by APA by April 1, 2024, pending shareholder approval on March 27. The deal has cleared regulatory requirements.
The acquisition by APA represents a pivotal moment for Callon Petroleum, likely leading to a positive market reaction in the short term. The clearance of regulatory barriers and the setting of a shareholder vote date provide clarity and momentum towards the deal's completion, potentially boosting CPE's stock price in anticipation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90