Talos Energy Inc

-1.88 (-10.73%)
Mergers / Acquisitions

Talos Energy Announces Strategic Acquisition Of Enven Energy

Published: 09/22/2022 11:31 GMT
Talos Energy Inc (TALO) - Talos Energy Announces Strategic Acquisition of Enven Energy, Increasing Operational Scale and Improving Financial Profile Through the Addition of Oil-weighted, Deepwater Assets With Significant Infrastructure.
Talos Energy Inc - Proposed Deal for $1.1 Billion.
Talos Energy Inc - Consideration for Transaction Consists of 43.8 Million Talos Shares and $212.5 Million in Cash, Plus Assumption of Enven's Net Debt.
Talos Energy Inc - Following Transaction, Talos Shareholders Will Own About 66% of Pro Forma Company.
Talos Energy Inc - No Anticipated Changes to Talos Senior Management Resulting From Transaction.
Talos Energy Inc - Deal Expected to Be More Than 13% Accretive to Talos Shareholders on 2023e Free Cash Flow per Share.
Talos Energy Inc - at Least $30 Million in Expected Annual Run-rate Synergies to Be Achieved in 2023.
Talos Energy Inc - Will Introduce a Proposal to Eliminate Its Classified Election Structure Such That All Directors Are Elected Annually.
Talos Energy Inc - Tim Duncan Will Remain Chief Executive Officer and Will Retain One Seat on Expanded Board of Directors.