Enerplus (NYSE:ERF) seals deal with Chord, wins 99.6% votes

Grafa2024-05-24

Enerplus Corporation (NYSE:ERF) has received overwhelming approval from its shareholders for a landmark transaction with Chord Energy Corporation, wherein Chord, via its wholly-owned subsidiary Spark Acquisition, will acquire all outstanding common shares of Enerplus.

The arrangement was backed by approximately 99.6% of shareholder votes at a special meeting.

Additionally, the transaction has cleared a significant regulatory hurdle by obtaining approval under the Investment Canada Act.

This pivotal move is anticipated to close around May 31, 2024, pending the final endorsement from the Court of King's Bench of Alberta expected on May 28, 2024, along with meeting other standard closing prerequisites.

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