UPDATE 1-Crescent Energy nears $2.1 billion deal for SilverBow, Bloomberg News reports

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May 16 (Reuters) – Crescent Energy is in advanced talks to buy SilverBow Resources, valuing the oil and gas producer at $2.1 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.

The deal talks come amid SilverBow’s tussle with its largest shareholder Kimmeridge Energy Management, which is vying for seats on SilverBow’s board after a failure to acquire the company.

SilverBow and Crescent Energy both operate in the Eagle Ford shale in Texas.

SilverBow, Crescent and Kimmeridge did not immediately respond to a Reuters request for comments.

Shares of SilverBow rose 6.7% in premarket trading.

(Reporting by Sourasis Bose in Bengaluru; Editing by Sriraj Kalluvila and Shilpi Majumdar)

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