Shareholders of Noble Energy, Inc have voted to support the pending merger of the company with Chevron Corporation.
Their vote took place in a special meeting on Friday and the two companies expect to close the merger in the fourth quarter of 2020.
“We are pleased that Noble Energy shareholders resoundingly support the pending transaction with Chevron,” said David L. Stover, Noble Energy’s Chairman and CEO.
As previously announced, on July 20, 2020, Chevron and Noble Energy entered into a definitive merger agreement providing for Chevron’s acquisition of Noble Energy in an all-stock transaction.
Under the terms of the definitive merger agreement, each eligible share of Noble Energy common stock issued and outstanding immediately prior to the effective time of the Merger will be converted into the right to receive 0.1191 of a share of Chevron’s common stock, with cash in lieu of any fractional shares.
Source: BusinessWire
