SilverBow Resources postponed its May 21 shareholders’ meeting following a May 16 agreement by Crescent Energy to buy SilverBow in a transaction valued at $2.1 billion. (Source: Shutterstock)
SilverBow Resources postponed its May 21 shareholders’ meeting following a May 16 agreement by Crescent Energy to buy SilverBow in a transaction valued at $2.1 billion.
The meeting has been reset for May 29, and the proposals to be voted on remain unchanged, SilverBow said. One key vote involves a proxy fight between SilverBow and Kimmeridge, the Eagle Ford E&Ps largest shareholder.
Kimmeridge has put forward three candidates for SilverBow’s board of directors. SilverBow has said Kimmeridge is attempting to gain control of the company.
“The decision to adjourn follows the company's announcement that it has entered into a definitive agreement pursuant to which Crescent Energy Company will acquire SilverBow in a transaction valued at $2.1 billion,” SilverBow said in a press release.
Kimmeridge said it is evaluating the Crescent Energy deal.
Shareholders who have already voted do not need to recast their votes, and proxies previously submitted in respect of the meeting will be voted at the adjourned meeting unless properly revoked, SilverBow said.
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Crescent Energy to Buy Eagle Ford’s SilverBow for $2.1 Billion
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