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HOUSTON - SilverBow Resources, Inc. (NYSE: NYSE:SBOW), a Houston-based energy company, announced that its stockholders have approved the acquisition by Crescent Energy Company in a deal valued at $2.1 billion. The approval came during a special meeting held today, with the transaction set to close tomorrow.
The acquisition received overwhelming support, with 99% of the votes cast in favor at the special meeting. SilverBow's CEO, Sean Woolverton, expressed gratitude for the stockholders' support and anticipation for the benefits of the merger, which is expected to create a leading oil and gas organization in the Eagle Ford (NYSE:F) Shale with a balanced asset portfolio and strong financial framework.
In a concurrent meeting, Crescent's stockholders also approved the issuance of Crescent Class A common stock as part of the transaction. The deal remains subject to customary closing conditions.
SilverBow Resources specializes in the exploration, development, and production of oil and gas in the South Texas region, leveraging over three decades of experience to maximize capital returns.
The details of the stockholder meetings and the final vote results will be filed with the U.S. Securities and Exchange Commission (SEC) on a Form 8-K.
This announcement comes following the effective registration statement filed with the SEC on June 27, 2024, and the joint proxy statement and prospectus mailed to both Crescent and SilverBow stockholders on June 28, 2024.
Investors and security holders can access documents related to the transaction filed with the SEC through the SEC's website, as well as through the investor relations sections of Crescent and SilverBow's websites.
The information in this article is based on a press release statement.
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