Oil and gas company Amplify Energy Corp. (NYSE: AMPY) announced on Friday that it has mutually agreed with Juniper Capital Advisors, L.P. to terminate their previously announced merger plans. The decision comes in response to extraordinary market volatility, which has prompted both companies to reassess their strategic paths. As of trade today, Amplify has seen shares rise by 16%.
Under the terms of the mutual termination agreement, Juniper will receive a cash payment of $800,000, settling any obligations that might have arisen under the original merger agreement.
Following the termination, Amplify has also canceled its planned special meeting with shareholders and has withdrawn all related proposals outlined in its amended definitive proxy statement filed with the Securities and Exchange Commission (SEC) on March 4, 2025.
As the companies move forward, Amplify has stated that it will provide a comprehensive update on its business performance — including capital allocation strategies and free cash flow projections — during its upcoming first-quarter earnings report. The company also confirmed its ongoing evaluation of strategic alternatives, including potential portfolio optimization efforts.
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