Banking Recap

SILVERBOW RESOURCES, INC. to Be Acquired

This deal is a stock-and-cash election merger in which SilverBow Resources, Inc., a company in the natural-resources sector, is the target being acquired by Crescent Energy Company. The transaction is classified under the M&A product group, and the disclosed deal value is not stated in the source document.

Jun 28, 2024·SEC EDGAR (DEFM14A)·pending regulatory·stock-and-cash election merger

The facts block is sourced from a single SEC filing: a DEFM14A filed with SEC EDGAR and published on June 28, 2024. The deal's current status is pending regulatory approval.

On the financial advisory side, four firms are named, two per side, without any lead designations specified. On the acquirer side, Intrepid Partners, LLC served as financial advisor to the Crescent Special Committee, and Jefferies (Jefferies LLC) served as financial advisor to Crescent more broadly. On the target side, Evercore (Evercore Group L.L.C.) and BofA Securities, Inc. both served as financial advisors to SilverBow.

No legal advisors were identified in the facts block for this transaction, for either SilverBow or Crescent Energy.

Beyond the "stock-and-cash election" characterization of the merger consideration, meaning target shareholders apparently had some form of election between stock and cash consideration, the facts block does not specify the exchange ratio, the cash amount per share, or the mechanics of the election.

Several material facts are not disclosed in the source material. The overall deal value is not stated. No legal advisors are identified for either party. The facts block also does not specify the terms of the stock-and-cash election, such as the per-share cash amount or exchange ratio, nor does it give an expected closing date.