HOUSTON, May 31, 2024 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord", "Chord Energy" or the "Company") and Enerplus Corporation (TSX: ERF) (NYSE: ERF) ("Enerplus") announced today the completion of their previously announced business combination (the "Arrangement"). The Arrangement was approved by Chord and Enerplus shareholders on May 14, 2024 and May 24, 2024, respectively, and received the approval of the Court of King's Bench of Alberta on May 28, 2024.
Enerplus to be delisted from TSX June 3
2024-05-31 18:29 ET - Shares Delisted from TSX
The Toronto Stock Exchange reports that Enerplus Corp. will be delisted at the close on June 3, 2024. According to the TSX, Spark Acquisition ULC, a wholly owned subsidiary of Chord Energy Corp., has acquired all of the issued and outstanding shares of the company for 0.10125 of a Chord share and $1.84 (U.S.) in cash per Enerplus share held.
The TSX notes that no fractional Chord shares will be issued under the arrangement. Where the total number of Chord shares issuable to an Enerplus shareholder would result in a fraction of a Chord share being issuable, such Enerplus shareholder shall receive the nearest whole number of Chord shares. For greater certainty, where such fractional interest is greater than or equal to 0.5, the number of Chord shares to be issued will be rounded up to the nearest whole number, and where such fractional interest is less than 0.5, the number of Chord shares to be issued will be rounded down to the nearest whole number.
