November 20, 2019 / 11:23 AM / 24 days ago

ISS urges shareholders vote in favor of Callon-Carrizo deal

(Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) recommended that Callon Petroleum Company shareholders vote in favor of its acquisition of Carrizo Oil & Gas Inc, the two oil and gas producers said on Wednesday.

ISS had earlier urged shareholders to vote against the original Callon-Carrizo merger.

Callon had on Thursday cut its offer for rival Carrizo to about $723 million from $1.2 billion in July.

Reporting by Arunima Kumar in Bengaluru; Editing by Rashmi Aich

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