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CRZO - Callon Petroleum: A Bit About The Acquisition
Carrizo Oil & Gas Inc.
Callon Petroleum (CPE) is acquiring its rival shale oil producer Carrizo Oil & Gas (CRZO) in an all-stock deal which could give it the scale advantage and push the company to free cash flows. But unlike some of the other deals, this merger will result in limited synergies and cost savings.
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Callon Petroleum recently revealed it would buy Carrizo Oil & Gas in an all-stock transaction valued at $3.2 billion, including the debt. Under the terms of the deal, Carrizo shareholders will receive 2.05 Callon shares against