Noble Energy shareholders approve merger with Chevron in $13 billion deal
Noble Energy has announced that shareholders of the Company approved the pending merger with Chevron and all other proposals related to the Merger at Noble Energy’s Special Meeting of Shareholders held October 2. Noble Energy anticipates providing final vote results for the Special Meeting, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission in a later release. Chevron and Noble Energy expect to close the Merger early in the fourth quarter of 2020.
‘We are pleased that Noble Energy shareholders resoundingly support the pending transaction with Chevron,’ said David L. Stover, Noble Energy’s Chairman and CEO. ‘Today’s approval marks an important milestone on the path to becoming part of an even stronger global energy platform. We thank our shareholders and other stakeholders for recognizing the many benefits that will be realized, and the significant value that will be created, through this combination.’
As previously announced, Chevron and Noble Energy entered into a definitive merger agreement providing for Chevron’s acquisition of Noble Energy in an all-stock transaction. Under the terms of the definitive merger agreement, each eligible share of Noble Energy common stock issued and outstanding immediately prior to the effective time of the Merger will be converted into the right to receive 0.1191 of a share of Chevron’s common stock, with cash in lieu of any fractional shares.
(Source: energy-pedia news)