Buy Montage Resources Senior Notes With 8.1% Yield To Call Ahead Of Takeover By Southwestern Energy [Seeking Alpha]
Southwestern Energy Company (SWN)
Last southwestern energy company earnings: 4/30 04:19 pm
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US:NYSE Investor Relations:
swn.com/investors/pages/default.aspx
Company Research
Source: Seeking Alpha
SummaryAcquirer/Type: Southwestern Energy/strategic buyer.Nature/Payment Type: Friendly/1.8656 acquirer share per target share.Deal Value/Equity Value: $868.5 million/$181.75 million.YTC: ~8.1% | Implied Deal Probability: 85.0% | Closing: Q4-2020.Remaining Milestone(s): Target shareholder vote.Risk and Return AnalysisMontage Resources(NYSE:MRSWNProbability of ClosingDeal Break PriceSource: TRACEStrategic RationaleBoth MR and SWN are Appalachia-focused E&P companies with meaningful acreage overlap between the two. This merger makes the combined entity the third largest producer in Appalachia. In addition to the $30 million in identified annual G&A savings, consolidating land holdings also means greater economies of scale on the production field.Company PresentationAlthough this is an all-stock transaction at no premium to MR's closing price prior to the announcement, I see this as a mutually beneficial transaction. MR shareholders are able to maintain the upside by holding equity in a
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High impacting Southwestern Energy Company news events
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SWN
News
- Southwestern Energy (NYSE: SWN) was downgraded by analysts at Piper Sandler from an "overweight" rating to a "neutral" rating. They now have a $7.00 price target on the stock, down previously from $8.00.MarketBeat
- Southwestern Energy Schedules First Quarter Earnings Release Date for May 2, 2024Business Wire
- Southwestern Energy (NYSE: SWN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Southwestern Energy (NYSE: SWN) was downgraded by analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating. They now have a $9.50 price target on the stock.MarketBeat
- Investing in Southwestern Energy (NYSE:SWN) three years ago would have delivered you a 75% gain [Yahoo! Finance]Yahoo! Finance
SWN
Earnings
- 2/22/24 - Beat
SWN
Sec Filings
- 4/5/24 - Form 425
- 4/5/24 - Form 425
- 4/5/24 - Form 425
- SWN's page on the SEC website