logo
Plus   Neg
Share
Email

Crude Carriers Shareholder Approve Merger Deal With Capital Product Partners

Crude Carriers Corp. (CRU) announced that its shareholders have approved the proposal to adopt the merger agreement providing for the acquisition of Crude by Capital Product Partners L.P. or CPLP in a unit-for-share transaction with Crude shareholders receiving 1.56 CPLP common units for each Crude share.

According to the final tally of shares voted, approximately 8.45 million shares of Crude common stock and 2.11 million shares of Crude Class B stock voted for the approval of the proposal to adopt the merger agreement, representing approximately 60.8% and 100%, respectively, of the shares outstanding and entitled to vote. Also, approximately 8.29 million shares of Crude common stock held by unaffiliated shareholders voted for the approval of the proposal to adopt the merger agreement, representing approximately 60.3% of such shares outstanding and entitled to vote and 97.9% of the votes cast.

Crude expects that the merger will be completed on or about September 30, 2011.

For comments and feedback contact: editorial@rttnews.com

Follow RTT