Cabot Oil & Gas and Cimarex Energy to Combine in All-Stock Merger of Equals
édité le 25/05/2021 - Plus de news de Cabot Oil & Gas - Voir la fiche entreprise de Cabot Oil & Gas
Cabot Oil & Gas Corporation and Cimarex Energy Co. announced that they have entered into a definitive agreement whereby the companies will combine in an all-stock merger of equals. The combination will bring together two industry-leading operators with top-tier oil and natural gas assets to create a diversified energy leader that is positioned to drive enhanced free cash flow generation and returns for investors through market cycles.
Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Cimarex shareholders will receive 4.0146 shares of Cabot common stock for each share of Cimarex common stock owned. The exchange ratio, together with closing prices for Cabot and Cimarex on May 21, 2021, reflects an enterprise value for the combined companie
(PRNewsfoto/Cimarex Energy Co.,Cabot Oil & Gas Corporation)
HOUSTON and DENVER, May 24, 2021 /PRNewswire/
Cabot Oil & Gas Corporation ( Cabot ) (NYSE: COG) and Cimarex Energy Co. ( Cimarex ) (NYSE: XEC) today announced that they have entered into a definitive agreement whereby the companies will combine in an all-stock merger of equals. The combination will bring together two industry-leading operators with top-tier oil and natural gas assets to create a diversified energy leader that is positioned to drive enhanced free cash flow generation and returns for investors through market cycles.
Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Cimarex shareholders will receive 4.0146 shares of Cabot common stock for each share of Cimarex common stock owned. The exchange ratio, together with closing prices for Cabot and Cimarex on May 21, 2021, reflects an enterprise value for the combined companies of approximately
Cabot Oil & Gas and Cimarex Energy have entered into a definitive agreement whereby the companies will combine in an all-stock merger of equals. The combination will bring together two industry-leading operators with top-tier oil and natural gas assets to create a diversified energy leader that is positioned to drive enhanced free cash flow generation and returns for investors through market cycles.