Crescent Energy to Acquire SilverBow Resources for $2.1B
Portfolio Pulse from Benzinga Newsdesk
Crescent Energy (NYSE:CRGY) is set to acquire SilverBow Resources (NYSE:SBOW) in a $2.1 billion deal. SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock per SilverBow share, with an option for cash at $38 per share, capped at $400 million.
May 16, 2024 | 11:43 am
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Crescent Energy is acquiring SilverBow Resources in a $2.1 billion deal, which will expand its asset portfolio and potentially drive long-term growth.
The acquisition will significantly expand Crescent Energy's asset base and is expected to drive long-term growth and value creation, which is likely to positively impact its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SilverBow Resources is being acquired by Crescent Energy in a $2.1 billion deal, with shareholders receiving Crescent shares or cash at $38 per share.
SilverBow shareholders will benefit from the acquisition through Crescent shares or a cash option, which is likely to positively impact SilverBow's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100