-- Crescent Energy Inc. agreed to buy SilverBow Resources Inc., a rival oil and gas producer that’s in a proxy fight with its largest shareholder, for $2.1 billion.Dow Average Makes History to Hit the 40,000 Mark: Markets Wrap
The agreement comes as SilverBow seeks to fend off a board challenge from Kimmeridge Energy Management Co., which owns about 13% of its outstanding shares. SilverBow has been feuding with Kimmeridge since the asset manager began building a stake in the company in 2022. Kimmeridge is seeking three seats on SilverBow’s board after dropping its latest takeover offer.
Crescent’s financial advisers on the acquisition are Jefferies LLC, as lead advisor, and Wells Fargo & Co., while BofA Securities Inc. and Evercore advised SilverBow.Dow CFO explains path to its first emission-free facility
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