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InterOil shareholders back purchase bid

Admin | 4:46 AM | ||
InterOil Corporation shareholders are fully supporting the proposed acquisition by Exxon Mobil Corporation.

“POMSoX Today (Tuesday) announced that shareholders overwhelmingly approved the transaction with Exxon Mobil Corporation at the Special Meeting,” according to Port Moresby Stock Exchange.

“More than 91 per cent of the votes cast were in favour of the proposed transaction, an even greater percentage than the 80 per cent that previously voted to approve the original transaction at a Special Meeting on September 21, 2016.

“As stated in the management information circular related to the transaction, the court hearing in which InterOil is seeking a final order with respect to the Amended and Restated Plan of Arrangement is currently scheduled for February 20, 2017.”

In 2016, Exxon Mobil proposed to the tune of US$2.5 billion to buy InterOil Corporation shares. LoopPNG