Vintage Petroleum Stockholders Approve Merger with Occidental Petroleum
Vintage Petroleum's stockholders approved the merger agreement between Vintage and Occidental Petroleum at a special meeting of stockholders, paving the way for the acquisition of Vintage by Occidental to be completed.
The proposed transaction was overwhelmingly approved with approximately 55.0 million shares, or 99.9 percent of the shares represented at the meeting, voting in favor of the merger. Vintage had approximately 67.2 million shares outstanding as of the November 30, 2005 record date. Vintage and Occidental expect to complete the merger on January 30, 2006. Following completion of the merger, Vintage stockholders of record will receive instructions from Mellon Investor Services LLC pertaining to the exchange of Vintage shares for the merger consideration.
Under the terms of the merger, Vintage will be merged into a
subsidiary of Occidental and Vintage stockholders will gain the right
to receive 0.42 shares of Occidental Petroleum Corporation common
stock plus $20 in cash for each share of Vintage common stock they
Operates 1 Offshore Rigs
- Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources (Oct 09)
- Occidental Petroleum's Profit Beats As Prices For Chemicals Jump (Aug 02)
- Hess To Sell Permian EOR Assets To Occidental For $600 Million (Jun 19)
Company: Vintage Petroleum more info
- Bolivia: Four Companies Operating Under New Contracts (Jun 27)
- Meridian: On Track with Business Plan (May 09)
- Rio Negro E&P Bidding Rules Attract 11 Buyers (Feb 20)