SilverBow Resources rises after report Crescent Energy nears deal to buy firm

SilverBow Resources

16/05/2024 11:31

** Shares of oil and gas producer SilverBow Resources
 SBOW.N  jump 6.7% to $34.50 premarket
    ** Bloomberg reports Crescent Energy  CRGY.N  is in advanced
talks to buy SBOW, citing people familiar with the matter
    ** The deal values SBOW at ~$2.1 billion - report
    ** SBOW's largest shareholder Kimmeridge Energy had also
made a similar bid earlier this year but later withdrew the
offer
    ** Up to last close, stock was up 11.2% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))