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A&D - Callon pressured to nix $3.2B Carrizo buy, sell itself - September 2019
Hedge fund Paulson & Co. urged Permian pure-play Callon Petroleum to back out of its proposed $3.2 billion stock-and-debt acquisition of Carrizo Oil & Gas and consider selling itself instead. The 9.5% Callon stakeholder, owned by billionaire John Paulson, told the Callon board in a Sept. 9 letter that the company’s “attractiveness to potential buyers lies in the quality of its Permian assets” and that the addition of Carrizo’s “inferior Eagle Ford assets will......
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