Deal Snapshot
MERGING US OIL AND GAS FIRMS CALLON AND CARRIZO AMEND MERGER AGREEMENT FOLLOWING PUSHBACK
Friday 15 November 2019

US-based oil and gas companies Callon Petroleum Company (NYSE: CPE) and Carrizo Oil and Gas, Inc. (NASDAQ: CRZO) have amended the existing terms of their agreement for Callon to acquire Carrizo in an all-stock transaction, the companies said.
Essentially, Callon drastically cut the value of the deal following negative comments from a leading shareholder proxy and a substantial shareholder in the company.


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Details
Date Published: 15/11/2019
Target: Carrizo Oil and Gas, Inc
Country: USA
Deal Size: 723m (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Vendor:
Buyer: Callon Petroleum
Buyer Advisor: J.P. Morgan , Kirkland and Ellis , JPMorgan Chase Bank
Comment:
Callon relents to objections of ISS, Paulson and Co, scales back drastically on offer price

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