Crescent-SilverBow Deal Leaps Last FTC Hurdle

BY Hart Energy

The ending of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act satisfies an important condition needed to complete Crescent Energy Co.’s acquisition of SilverBow Resources.

Crescent Energy Co.’s pending acquisition of SilverBow Resources Inc. has cleared the Federal Trade Commission’s imposed waiting period, the companies announced on July 2. The ending of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 satisfies an important condition necessary for the completion of the transaction. The $2.1 billion deal would create one of the Eagle Ford Shale’s largest operators.

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

Meetings for both Crescent and Silverbow stockholders are scheduled for July 29 to vote on the transaction for stockholders of record as of June 28. The transaction, announced in May, is expected to close shortly after receiving stockholder approval from both companies.