Crescent-SilverBow Deal Clears FTC’s Final Hurdle

Crescent Energy Co. said July 2 that its pending acquisition of SilverBow Resources Inc. has cleared a waiting period imposed by the Federal Trade Commission.

The expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 satisfies an important condition necessary for the consummation of the transaction.

The $2.1 billion deal would create one of the Eagle Ford Shale’s largest operators.

RELATED

Could Crescent, SilverBow Buy More in South Texas After $2.1 Billion Deal?

Crescent and Silverbow shareholder meetings are scheduled for July 29, and the vote on the transaction will apply to shareholders of record as of June 28.

The transaction, announced in May, is expected to close shortly after receiving approval from shareholders of both companies.