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Stock impact report

Shareholders at two Denver-based companies approve $12.8B merger [Yahoo! Finance]

Civitas Resources, Inc. (CIVI) 
Last civitas resources, inc. earnings: 8/7 04:15 pm Check Earnings Report
US:NYSE Investor Relations: civitas-solutions.com/investor-relations
Company Research Source: Yahoo! Finance
Civitas Resources Inc. (NYSE: CIVI) and SM Energy Co. (NYSE: SM) struck a deal to combine in November, forming an oil and natural gas production company operating in Utah, Texas and northeastern Colorado's Denver-Julesburg Basin. On Tuesday, 97.7% of Civitas's voting shareholders approved the combination. SM Energy's shareholders also voted Tuesday, and 99.1% approved the merger, the companies said. The combined company's leadership will be drawn entirely from SM Energy, the oldest oil and gas company in Denver, founded in 1908. Civitas shareholders will own about 52% of the post-merger business, while SM Energy's shareholders will own the remaining 48%. "This combination brings together two highly complementary organizations to create a leading oil and gas company with enhanced scale and top-tier assets. Our team is focused on generating significant free cash flow and delivering superior, long-term value for our stockholders," SM Energy CEO Herb Vogel said in a release. Vo Show less Read more
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