Shareholders of Noble Energy, Inc. are being asked to take part in a special meeting in October to approve the pending $13 billion combination with Chevron Corporation.
Noble announced the meeting will be Friday, October 2 at 10 a.m. Central Time. Friday, August 21 was the record date for shareholders entitled to vote at the special meeting.
Noble Energy expects to file its definitive proxy statement with the U.S. Securities and Exchange Commission and begin mailing the definitive proxy statement to the Company’s shareholders later this week.
The definitive proxy statement will be available on the Investor Relations section of Noble Energy’s website, as well as www.sec.gov.
As announced on July 20, 2020, Noble Energy entered into a definitive agreement with Chevron, under which Chevron will acquire all of the outstanding shares of Noble Energy in an all-stock transaction at an enterprise value of $13 billion. Under the terms of the agreement, the Noble’s shareholders will receive 0.1191 shares of Chevron for each share of Noble Energy. The Board of Directors of Noble Energy unanimously recommended that shareholders vote “for” the merger proposal.
The coming proxy materials will explain the reasons for Noble’s Board of Directors and its unanimous recommendation for adoption of the merger.
The U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on Thursday, August 20, 2020. Noble Energy and Chevron expect to close the transaction early in the fourth quarter following Noble Energy shareholder approval.
J.P. Morgan Securities LLC is acting as financial advisor to Noble Energy and Vinson & Elkins LLP is acting as its legal advisor.
Source: BusinessWire