InterOil Corp. (IOC) Offers Update on ExxonMobil (XOM) Transaction; Says Yukon Court Upheld Appeal

November 4, 2016 2:36 PM EDT

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

InterOil Corporation (NYSE: IOC) today announced that the Court of Appeal of Yukon has upheld the appeal lodged by Phil Mulacek and overturned the Supreme Court of Yukon's approval of the pending transaction with Exxon Mobil Corporation (NYSE: XOM) on October 7, 2016.

InterOil continues to believe that the current Arrangement Agreement represents compelling value for all InterOil shareholders. InterOil and ExxonMobil are considering the court's ruling and determining a path to closing the transaction.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Litigation, Mergers and Acquisitions

Related Entities

Definitive Agreement

Add Your Comment