SilverBow (SBOW) Rejects Kimmeridge's Offer on Undervaluation [Yahoo! Finance]
SilverBow Resorces, Inc. (SBOW)
Last silverbow resorces, inc. earnings: 3/4 04:05 pm
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Source: Yahoo! Finance
In its latest offer, Kimmeridge had proposed to acquire the upstream energy player for a total of $2.1 billion, including debt. The offer also mentioned a merger between Kimmeridge's South Texas gas assets, Kimmeridge Texas Gas (“KTG”) with SilverBow. The deal gained support from other shareholders of SilverBow Resources. However, the company's board of directors has urged shareholders to vote against Kimmeridge's offer in its upcoming 2024 annual meeting of shareholders. The board has sent out a rather harsh letter to its shareholders, vehemently opposing what they perceive to be “false claims” made by Kimmeridge. The letter stated that Kimmeridge's offer “substantially undervalues SilverBow”. In addition, SBOW wrote that KTG's assets are overvalued, and the merger would be advantageous for Kimmeridge at the expense of the former's other shareholders. The board continues to point toward the importance of conducting due diligence on KTG's assets. As part of the deal, Kimmeridge
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News
- SilverBow Resources Mails Letter to Shareholders Highlighting Proven M&A Strategy Overseen by Highly Experienced Board [Yahoo! Finance]Yahoo! Finance
- SilverBow Resources Mails Letter to Shareholders Highlighting Proven M&A Strategy Overseen by Highly Experienced BoardBusiness Wire
- SilverBow Resources, Inc. (NYSE:SBOW) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Kimmeridge Releases Presentation on SilverBow's Track Record of Value Destructive M&A [Yahoo! Finance]Yahoo! Finance
- SilverBow Resources, Inc. (NYSE: SBOW) had its price target raised by analysts at Mizuho from $42.00 to $43.00. They now have a "buy" rating on the stock.MarketBeat
SBOW
Earnings
- 5/1/24 - Beat
SBOW
Sec Filings
- 5/6/24 - Form DEFA14A
- 5/3/24 - Form DEFA14A
- 5/2/24 - Form DEFA14A
- SBOW's page on the SEC website