ExxonMobil and InterOil Corporation have agreed to extend the outside date of the current Arrangement Agreement, in relation to their merger, to the close of business on Wednesday, December 21.
The extension follows the Court of Appeal of Yukon’s decision to allow an appeal by InterOil’s Independent Transaction Committee to progress. The committee consists of four independent and experienced directors of InterOil, who are undertaking a detailed and thorough review process relating to the proposed transaction, with the support of independent legal counsel and BMO Capital Markets, an independent financial advisor.
“We are pleased to have reached an agreement with ExxonMobil to extend the outside date and expect to be in a position to update shareholders on the progress of our deliberations shortly,” William Ellis Armstrong, chairman of the committee, said.
Have a news tip? Share it with Rigzone!
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you