At a special meeting of Cabot shareholders, more than 99% of voted shares (approximately 89% of outstanding shares) were in favour of the merger. At the Cimarex special meeting of shareholders, more than 90% of voted shares (approximately 79% of outstanding shares) were in favour of the merger.
Dan O. Dinges, Chairman, President and CEO of Cabot, said: "We are pleased that Cabot shareholders recognize the considerable opportunities ahead for our combined business. We are excited to build on this momentum and our strong foundations as we progress towards closing the transaction and creating a premier, diversified energy company."
"We thank Cimarex shareholders for their support of our value creating transaction," said Thomas E. Jorden, Chairman, President and CEO of Cimarex. "Our combined business will have top-tier assets that will generate substantial cash flow to drive peer-leading returns through commodity price cycles. We look forward to completing this transaction and delivering these compelling benefits to our shareholders."
The transaction is anticipated to close on 1 October 2021. Following the closing of the transaction, the combined business intends to change its name and ticker symbol.
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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/30092021/cabot-and-cimarex-shareholders-approve-merger/