Proxy Advisor Glass Lewis in Favor of Cimarex/Cabot Merger

In May MDN told you about one of the oddest combinations in recent memory--the merger of Permian driller Cimarex Energy with Marcellus driller Cabot Oil & Gas (see HUGE NEWS: Permian Driller Cimarex Buying Out Cabot Oil & Gas). Given the negative reaction by stock analysts and investors, we had hoped maybe the deal would fall apart (see Markets “Baffled” by “Unexpected” Cabot Merger with Cimarex). It looks like our hopes are dashed. A major national proxy advisor, Glass Lewis, is recommending shareholders from both companies approve the merger on September 29 when they vote.

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