SilverBow Resources Board Rejects Kimmeridge's Latest Proposal

(RTTNews) - SilverBow Resources, Inc. (SBOW), Thursday announced its board's decision to reject Kimmeridge Energy Management Company's latest proposal over concerns that it substantially undervalues the company.

The decision was made after consulting with its independent financial and legal advisors, who found that Kimmeridge has mentioned the estimated asset valuation of Kimmeridge Texas Gas in the proposal, instead of actual value.

The energy company also stated that it would not nominate the nominees put forth by Kimmeridge.

Currently, SilverBow's stock is trading at $34.47, down 0.63 percent on the New York Stock Exchange.