Callon Petroleum Merges with APA Corporation

Callon Petroleum Company (CPE) has released an update.

Callon Petroleum Company is set to merge with APA Corporation, creating a unified entity under APA’s umbrella. Callon shareholders are poised to receive 1.0425 shares of APA stock for each Callon share held, with the merger expected to close around April 1, 2024, pending regulatory and shareholder approvals. This move is anticipated to consolidate the companies’ strengths and unlock potential synergies, marking a strategic advancement in the energy sector.

For further insights into CPE stock, check out TipRanks’ Stock Analysis page.