Adams Resources & Energy, Inc. (AE) announced that its stockholders have approved the company's acquisition by an affiliate of Tres Energy LLC during a special meeting.
According to the terms of the merger, Adams stockholders will receive $38.00 per share in cash for each share of common stock held prior to the merger's effective date.
About 77% of the company's outstanding shares were voted at the Special Meeting, with over 76% approving the merger. The final voting results will be included in a Form 8-K filed by the company with the SEC.
AE expects the merger to close in early February 2025.
Currently AE is trading at $37.94 or 0.08% on the New York Stock Exchange.
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