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CM - Callon to issue stock, assume Carrizo’s $2B debt in takeover - August 2019
Shareholders of Carrizo Oil & Gas will receive 2.05 shares of Callon Petroleum for each of their shares, under terms of a July 15 definitive agreement for Callon to buy Carrizo for $3.2 billion, including the assumption of $1.99 billion in debt. The payout for Carrizo shareholders was equal to $13.12 a share, or 25% higher than the company’s July 12 Nasdaq closing price. It also represented an 18% premium to the 60-day volume-weighted average of the stock, which......
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