Brief: California Resources Corporation Announces All-Stock Combination With Berry Corporation
15/09/2025 13:18
Sept 15 (Reuters) - California Resources Corporation CRC.N: CALIFORNIA RESOURCES CORPORATION ANNOUNCES ALL-STOCK COMBINATION WITH BERRY CORPORATION CALIFORNIA RESOURCES : UNDER TERMS OF MERGER AGREEMENT, EXISTING CRC SHAREHOLDERS ARE EXPECTED TO OWN ABOUT 94% OF COMBINED COMPANY UPON CLOSING CALIFORNIA RESOURCES : BERRY SHAREHOLDERS WILL RECEIVE A FIXED EXCHANGE RATIO OF 0.0718 SHARES OF CRC COMMON STOCK FOR EACH SHARE OF BRY COMMON STOCK CALIFORNIA RESOURCES : COMBINED CO WOULD HAVE PRODUCED ABOUT 161 THOUSAND BARRELS OF OIL EQUIVALENT PER DAY (MBOE/D) (81% OIL) IN Q2 PRO FORMA BASIS CALIFORNIA RESOURCES CORP: PROPOSED DEAL FOR ABOUT $717 MILLION Source text: ID:nGNXbMGySQ Further company coverage: CRC.N ((Reuters.Briefs@thomsonreuters.com;))
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