The proposed merger was announced on June 23, 2006, and is expected to be completed immediately, following the satisfaction of customary closing conditions set forth in the merger agreement. Under the terms of the merger agreement, Kerr-McGee stockholders will receive $70.50 per share in cash for each share of common stock.
Kerr-McGee is an Oklahoma City-based oil and natural gas exploration and production company focused in the U.S. onshore, deepwater Gulf of Mexico and select proven world-class hydrocarbon basins.
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