Chord Energy and Enerplus Announce Pending Merger Progress

By Bobby Samwell • Monday, April 08 10:42 • Permanent Link

Chord Energy Corporation (NASDAQ: CHRD) and Enerplus Corporation (TSX: ERF) (NYSE: ERF) have announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with their pending combination, expired on April 5, 2024. This marks a significant step towards the closing of the stock-and-cash transaction, which is expected to occur in the second quarter of 2024, subject to certain closing conditions being met.

Chord Energy anticipates filing its definitive proxy statement on April 9, 2024, relating to the special meeting of Chord stockholders to consider and vote upon the issuance of shares of Chord common stock in connection with the transaction. The record date for the Chord stockholders entitled to vote at the special meeting is the close of business on April 8, 2024, with the special meeting scheduled for May 14, 2024.

Enerplus expects to file and deliver its management information circular relating to the special meeting of Enerplus shareholders to consider and vote upon the transaction in late April 2024, ahead of the shareholder meeting anticipated to be held in late May 2024.

Chord Energy Corporation is described as an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. The company is said to have a "best-in-class" balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely, and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. Today the company's shares have moved -0.2% to a price of $184.36. If you want to know more, read the company's complete 8-K report here.

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