- Cimarex Energy’s (NYSE:XEC) all-stock merger with Cabot Oil & Gas (NYSE:COG) didn’t get the reception the companies likely expected after it was unveiled on Monday.
- No less than six Wall Street firms downgraded the ratings of Cimarex and/or Cabot Oil. At the end of the week Cabot Oil had dropped about 8% and Cimarex fell almost 5% since the day before the deal was announced.
- The latest firm to hit the downgrade button was Raymond James, which in a unusual move, cut both Cabot Oil and Cimarex Energy…
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