Vital Energy rises on $3.1 billion acquisition by Crescent Energy
25/08/2025 14:54
Updates
** Shares of Vital Energy VTLE.N rise 6.1% to $16.76
** Crescent Energy CRGY.N says it will acquire Vital Energy VTLE.N in all-stock deal for $3.1 billion, including debt
** Shares of CRGY fall 9.7% to $8.98 in morning trading
** The deal represents a premium of 20% as per stock's last close
** Crescent shareholders will own about 77% of the combined company and the rest will be owned by VTLE
** The deal is expected to close by the end of the year
** CRGY says it has lined up a $1 billion pipeline of non-core asset sales to help strengthen its balance sheet
** Reuters had reported the talks on Friday, citing sources familiar with the matter
** Brokerage Siebert Williams Shank expects CRGY to be under pressure in near term with acquisition uncertainty overhang, especially following recent outperformance
** Including session's moves, VTLE and CRGY shares down 45.8% and 38.5%, respectively, this year
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com))