CPE stock is in the red on Monday after Callon Petroleum’s (NSYE:CPE) third-largest shareholder, Paulson & Co, announced it would not oppose the company’s takeover of smaller rival Carrizo Oil & Gas (NASDAQ:CRZO) based on the revised terms.
CPE Stock Sinks Despite Major Shareholder Approving Deal
Paulson & Co, which held 9.5% of CPE stock as of November 6, had been opposed to the Carrizo takeover on the previously stated terms, arguing that the 25% premium it was planning on paying was far too high and that the company should instead put itself on the market. ...
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Source: MicroSmallCap
(November 18, 2019 - 2:52 PM EST)
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