Vinson & Elkins, including its incoming chairman Keith Fullenweider, has a long history of working with KKR. Kevin Adam led the Wells Fargo Securities team with assistance on the coverage side from Scott Van Bergh. The transaction has already been approved by both boards of directors, though it is still subject to regulatory and shareholder approvals. The deal – with an equity value of $4.8 billion and enterprise value of $5.7 billion – is expected to close in the late third quarter. Fort Worth billionaire and real estate behemoth John Goff was tapped as Contango's chairman of the board in 2019 and is the company's largest shareholder of Contango. He has signed an agreement to vote in favor of the transaction. Goff is set to become chairman of the board of directors of the combined company. Under terms of the definitive agreement, Independence will merge with a new operating subsidiary under the parent company. Contango will then become a subsidiary of that entity.