Enerplus-Chord Energy deal receives shareholder and Investment Canada Act approval

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Shareholders,Chord Energy

CALGARY — Enerplus Corp. says its shareholders have voted to approve a takeover of the company by U.S. company Chord Energy Corp.

The Calgary-based oil and gas company says shareholders voted 99.6 per cent in favour of the stock-and-cash deal.Under the terms of the agreement, Enerplus shareholders will receive 0.10125 shares of Chord common stock and US$1.84 per share in cash for each Enerplus share they hold.

Once the deal is complete, Chord shareholders will own about two-thirds of the combined company, while Enerplus shareholders will own one-third.Enerplus says the deal is expected to close on or about May 31, subject to court approval and the satisfaction or waiver of other customary closing conditions.A dividend stock with a mouth-watering yield providing monthly cash flow streams. The post A 10.6% Dividend Stock That Provides Monthly Cash Payments appeared first on The Motley Fool Canada.

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