两家律师事务所正在调查Civitas公司和SM Energy公司的12.8B美元合并案, Two law firms are probing Civitas and SM Energy’s $12.8B merger over fairness concerns.

2025年11月3日,两家律师事务所Wohl & Fruchter LLP和The Ademi Company宣布对Civitas Resources(CIVI)和SM Energy(SM)之间拟议的128亿美元全股合并进行调查,同时对交易条款的公正性表示关切。 On November 3, 2025, two law firms, Wohl & Fruchter LLP and The Ademi Firm, announced investigations into the proposed $12.8 billion all-stock merger between Civitas Resources (CIVI) and SM Energy (SM), citing concerns over the fairness of the deal terms. 根据SM10月31日的关闭价格(低于分析家的价格目标)和Civitas52周的高价,Civitas每股股将获得1.45 SM股份,其价值为每股30.29美元。 Civitas shareholders would receive 1.45 SM shares per share, valuing the deal at $30.29 per Civitas share based on SM’s October 31 closing price—below analysts’ price targets and Civitas’s 52-week high. 这些公司正在审查Civitas的董事会是否履行了其信托义务,包括汇率的公平性、材料资料的披露和对内部人员的潜在好处。 The firms are examining whether Civitas’s board fulfilled its fiduciary duties, including the exchange ratio’s fairness, disclosure of material information, and potential benefits to insiders. 合并预计将于2026年初结束,将建立一个拥有823 000英亩净英亩的大型美国页岩生产国,预计每年将产生2亿美元协同效应,2025年将产生14亿美元以上的自由现金流,而SM能源公司仍保留其名称和总部在丹佛。 The merger, expected to close in early 2026, would create a major U.S. shale producer with 823,000 net acres, projected to generate $200 million in annual synergies and over $1.4 billion in 2025 free cash flow, with SM Energy retaining its name and headquarters in Denver.