SM Energy Merger Creates Top 10 Producer With Deeply Discounted Shares
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SM Energy (NYSE:SM) has completed its $12.8b all stock merger with Civitas Resources. The combined company is now a top 10 independent oil producer in the U.S. Leadership has shifted, with a new CEO and an expanded board including both SM Energy and Civitas representatives. The company outlined a post merger plan that targets substantial cost and operating synergies. Management is pursuing more than $1b of asset divestitures and increased financing capacity following the deal close. For...
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