logo
Plus   Neg
Share
Email

Callon Petroleum To Acquire Carrizo In $3.2 Bln Deal - Quick Facts

Callon Petroleum Company (CPE) and Carrizo Oil & Gas, Inc. (CRZO) have reached a deal, under which Callon will acquire Carrizo. The Carrizo shareholders will get 2.05 Callon shares for each share they own. The all stock acquisition is valued at $3.2 billion or
$13.12 per Carrizo share.

Callon shareholders will own approximately 54% of the combined company, and Carrizo shareholders will own approximately 46%. The combined company will be led by Callon's executive team.

Callon expects the deal to be immediately accretive to EPS, debt-adjusted growth per share and net asset value per share. Also, Callon projects the acquisition to be immediately accretive to free cash flow per share in 2020 with positive free cash flow generation of over $100 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Chipotle Mexican Grill Inc. is introducing a new protein to its menu, Carne Asada, starting this week. Carne Asada is Chipotle's newest protein addition since it reintroduced chorizo in September 2018. The Mexican food chain said that the new steak option will be available at its restaurants nationwide from Thursday, September 19, 2019. Pizza Hut has partnered with Cheez-It to launch a new item to its menu - the Stuffed Cheez-It Pizza. The pizza chain, a subsidiary of Yum! Brands, said that the new item combines Pizza Hut pizza and the Cheez-It cheese snack. Stuffed Cheez-It Pizza will be available on Pizza Hut menus nationwide for a limited-time. Pizza Hut is the official pizza sponsor of the NFL and NCAA. The U.S. Food and Drug Administration on Tuesday unveiled a new international collaboration for simultaneous review and approval of cancer drugs along with the agency's Australian and Canadian counterparts. The simultaneous approval of cancer therapies by the three regulators is intended to accelerate the process of making these new treatments available to patients around the world.
Follow RTT