Denbury shareholders approve takeover by Exxon Mobil

Denbury (DEN) announced that, at its special meeting of stockholders held earlier today, Denbury stockholders voted to approve its merger with Exxon Mobil (XOM). Under the terms of the merger agreement, ExxonMobil will acquire all of the outstanding shares of Denbury at an exchange ratio of 0.84 shares of ExxonMobil for each Denbury share. According to preliminary results, Denbury stockholders approved the transaction with more than 75% of the total shares outstanding and 99% of the shares voted in support of the merger. The closing of the transaction remains subject to customary closing conditions and is expected to occur on November 2.