InterOil Shareholders Approve ExxonMobil Transaction

InterOil Corp. (IOC) announced that its shareholders overwhelmingly voted to approve the transaction with Exxon Mobil Corporation (XOM). Of the votes cast at the Special Meeting, more than 80 percent were in favor of the proposed transaction.

The transaction is expected to close by the end of September 2016. InterOil intends to seek a final order with respect to the plan of arrangement at a hearing in the Supreme Court of Yukon, which is scheduled for September 27, 2016.

In July 2016, Exxon Mobil Corp. and InterOil Corp. announced an agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil.

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