SWN Merger
Posted: Wed Jun 02, 2021 7:37 am
HOUSTON, June 2, 2021 /PRNewswire/ -- Indigo Natural Resources LLC ("Indigo" or the "Company") today announced that it has entered into a definitive merger agreement with Southwestern Energy Company ("Southwestern", NYSE: SWN), under which Southwestern will acquire Indigo for approximately $2.7 billion. The total consideration of $2.7 billion will be comprised of $400 million in cash, approximately $1.6 billion in SWN common stock and $700 million in aggregate principal amount of assumed 5.375% Senior Notes due 2029 of Indigo (the "Notes"). This release constitutes the public announcement of the intention of Indigo to effect a Change of Control, as defined under the indenture governing the Notes.
The transaction was unanimously approved by each of Southwestern Energy's and Indigo's board of directors. The transaction is expected to close early in the fourth quarter of 2021, subject to regulatory approvals, customary closing conditions and the approval by Southwestern Energy's shareholders.
For more information on the transaction, please refer to ir.swn.com.
About Indigo Natural Resources
Indigo Natural Resources LLC is one of the largest natural gas producers in the Haynesville Shale and the third largest private natural gas producer in the U.S. Indigo is an experienced operator, focused in northern Louisiana with direct access to Gulf Coast markets and associated industrial and LNG demand growth. Indigo is headquartered in Houston, Texas. For more information, please visit the Company's website at www.ndgo.com.