Mergers and Acquisitions

Southwestern Energy has begun a merger with Montage Resources. Under the agreement, the shareholders of Montage Resources will receive 1,8656 shares of Southwestern for each of its securities. The transaction is expected to be closed in Q4 2020, subject to shareholder approval. In addition, Southwestern Energy will issue 55 million shares to repay the debt on the bonds of the acquired company. The placement provides for a 30-day option for the underwriters for 8.250 million additional shares.