March 21 (Reuters) - SilverBow Resources ( SBOW )
shareholder Riposte Capital on Thursday backed Kimmeridge Energy
Management's latest buyout offer that valued the U.S. oil and
gas producer at close to $2.1 billion, including debt.
The activist shareholder, which owns about 9.9% of
SilverBow's outstanding common stock, said the offer from the
company's largest shareholder was "highly compelling".
On March 13, Kimmeridge submitted a new offer that aimed to
combine SilverBow with Kimmeridge's gas-producing assets in
South Texas.
"The combined entity would be positioned to lead further
consolidation in the region and would be instantly attractive to
the public markets," Riposte said.
Kimmeridge and SilverBow did not immediately respond to
requests for comment.
In November, Kimmeridge had backed Riposte Capital's demand
that SilverBow appoint three new directors to its board.