Kimmeridge, the largest shareholder of SilverBow Resources, has withdrawn its merger proposal for the Texas-based shale driller. The energy-focused alternative asset manager, Kimmeridge Texas Gas (KTG) and SilverBow, proposed eight potential strategic transactions for SilverBow to establish a foundation for long-term value creation. However, SilverBow has refused to enter into good faith negotiations or undertake substantive due diligence to assess the best path forward for unlocking value. Kimimmeridge is withdrawing its proposal to improve SilverBow’s governance.

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