SWN - Chesapeake Energy: Shareholders Vote In Favor Of Merger (Rating Upgrade)
2024-06-20 07:22:52 ET
Summary
- Chesapeake and Southwestern's shareholders voted strongly in favor of the merger.
- The FTC still needs to approve the deal, with a 2H 2024 deal close now expected.
- The deal price itself seems fair for both companies.
- The main value is in the $400 million per year in estimated cost savings.
Chesapeake Energy ( CHK ) and Southwestern Energy's ( SWN ) shareholders voted strongly in favor of the deal that will create a very large 7+ Bcfe per day natural gas (mostly) producer. The deal is currently expected to close in 2H 2024 after delays caused by FTC requests ....
Chesapeake Energy: Shareholders Vote In Favor Of Merger (Rating Upgrade)