Chesapeake, Southwestern say deal delayed after second FTC request for information [Reuters]
Southwestern Energy Company (SWN)
Last southwestern energy company earnings: 4/30 04:19 pm
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Source: Reuters
Friday the closing date of their proposed $7.4 billion merger has been pushed back to the second half of the year after receiving a second request for information from the Federal Trade Commission. Chesapeake had agreed to buy smaller rival Southwestern Energy earlier this year, a deal that will make it the largest independent U.S. natural gas producer. The deal was earlier expected to close by the second quarter of 2024. U.S. lawmakers have sought increased scrutiny by the FTC over multi-billion dollar deals. Nearly 50 Democrats in the U.S. Congress in March urged the regulator to probe oil and gas company deals and expand current investigations to protect consumers and industry competition. Exxon Mobil (XOM.N) , opens new tab and Pioneer Natural Resources (PXD.N) , opens new tab received similar requests from the FTC related to their $60 billion merger, along with Chevron (CVX.N) , opens new tab for its buyout of Hess Corp (HES.N) , opens new tab Chesapeake and Southwestern
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SWN
News
- 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) had its price target raised by analysts at Stifel Nicolaus from $6.60 to $7.60. They now have a "hold" rating on the stock.MarketBeat
- Southwestern Energy (NYSE: SWN) had its price target raised by analysts at Susquehanna from $7.00 to $7.50. They now have a "neutral" rating on the stock.MarketBeat
- 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 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
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