Noble Energy has announced that shareholders of the company have approved the pending merger with Chevron Corporation, according to a press release.
David Stover, CEO of Noble Energy, said, “We are pleased that Noble Energy shareholders resoundingly support the pending transaction with Chevron. Today’s approval marks an important milestone on the path to becoming part of an even stronger global energy platform. We thank our shareholders and other stakeholders for recognizing the many benefits that will be realized, and the significant value that will be created, through this combination.”
Chevron and Noble Energy expect to close the Merger early in Q4 2020.
As previously announced in July, Chevron and Noble Energy entered into a definitive merger agreement providing for Chevron’s acquisition of Noble Energy in an all-stock transaction. As per the agreement, Noble Energy’s common stock will receive 0.1191 of a share of Chevron’s common stock.