SilverBow Resources falls after rejecting Kimmeridge takeover bid

SilverBow Resources

28/03/2024 18:43

** Shares of energy producer SilverBow Resources  SBOW.N 
down 1.96% to $34
    ** Co rejects largest shareholder Kimmeridge Energy
Management's latest offer that values the oil and gas producer
at $2.1 bln 
    ** SBOW says latest offer from Kimmeridge "substantially
undervalues" co
    ** Oil and gas producer also rejected three board nominees
proposed by Kimmeridge earlier in March
    ** SilverBow said it is continuing to engage with Kimmeridge
over the proposed deal
    ** Including session's losses, SBOW shares are up 17.3% YTD

 (Reporting by Atharva Singh in Bengaluru)
 ((Atharva.singh@thomsonreuters.com))