Civitas Resources (CIVI) is weighing a merger with SM Energy (SM), a deal that would be structured as a merger of equals with no premium, according to people familiar with the matter, Bloomberg’s David Carnevali reports. The combined company would be worth at least $14B, including debt, according to the report, which notes that Civitas and SM Energy have operations in the Permian Basin and other areas, including the Eagle Ford shale, Utah’s Uinta Basin, and Colorado’s Denver-Julesburg Basin.
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