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CRZO - Callon Petroleum: Acquisition Of Carrizo Has Some To Prove
Carrizo Oil & Gas Inc.
Callon Petroleum (CPE) has reached a mega deal, at least given the size of its firm, with the purchase of Carrizo Oil & Gas (CRZO) in a $3.2 billion deal. Investors are not comfortable about the deal, even as this is an all-stock deal, and investors in both companies should theoretically benefit from synergies. That said, M&A and general performance of share players has been mixed at best, as the same applies for shares of both companies, making me cautious despite the lacklustre share price reaction.