(XEC Alert) Johnson Fistel Investigates Proposed Sale of Cimarex; Are Shareholders Getting a Fair Deal?

SAN DIEGO, May 24, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Cimarex Energy Co. (NYSE: XEC) ("Cimarex" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Cabot Oil & Gas Corporation ("Cabot") (NYSE: COG).  

On May 24, 2021, Cimarex announced that it had entered into a definitive merger agreement with Cabot. Under the terms of the agreement, Cimarex shareholders will receive 4.0146 shares of Cabot common stock for each share of Cimarex common stock owned. The exchange ratio, based on Cabot's closing price on May 21, 2021, represents a total consideration of approximately $71.50 per Cimarex share.

Cimarex shareholders will be subject to the future price fluctuation of Cabot's stock price.

The investigation concerns whether the Cimarex board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Cimarex shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future revenue growth.

If you are a shareholder of Cimarex and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP

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