Nexen (NXY) Holders Approve Plan of Arrangement in CNOOC (CEO) Merger
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Nexen Inc. (NYSE: NXY) announced today that the holders of its common shares and the holders of the cumulative redeemable class A rate reset preferred shares, series 2 (the "preferred shareholders") have approved the Plan of Arrangement, pursuant to the Arrangement Agreement entered into on July 23, 2012 (the "arrangement"), in connection with the proposed acquisition of Nexen Inc. by CNOOC Limited (NYSE: CEO) through CNOOC Canada Holding Ltd.
The arrangement was approved by approximately 99% of the votes cast by Nexen common shareholders and approximately 87% of the votes cast by Nexen preferred shareholders at the special meeting held on September 20, 2012.
The closing of the arrangement remains subject to the granting of the final order by the Court of Queen's Bench of Alberta, the receipt of required regulatory approvals and the satisfaction or waiver of the other customary closing conditions.
The arrangement was approved by approximately 99% of the votes cast by Nexen common shareholders and approximately 87% of the votes cast by Nexen preferred shareholders at the special meeting held on September 20, 2012.
The closing of the arrangement remains subject to the granting of the final order by the Court of Queen's Bench of Alberta, the receipt of required regulatory approvals and the satisfaction or waiver of the other customary closing conditions.
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