07:56 AM EDT, 05/16/2024 (MT Newswires) -- Crescent Energy ( CRGY ) and SilverBow Resources ( SBOW ) said Thursday they have signed a deal under which Crescent will buy SilverBow for $2.10 billion.

SilverBow stockholders will receive 3.125 of Crescent's Class A common shares for each SilverBow common share they own, with the option to elect to receive a part or all of the proceeds in cash at $38 per share, the companies said.

The deal will likely be completed by the end of Q3, they added.

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