Berry Corporation announced that its stockholders approved the combination with California Resources Corporation (CRC).
The merger agreement includes a fixed exchange ratio of 0.0718 shares of CRC common stock for each share of Berry common stock.
Approximately 73% of total shares outstanding and 98% of the shares voted supported the combination.
Merger Approval
Berry stockholders voted in favor of the combination with CRC with strong support.
Exchange Ratio
The fixed exchange ratio for the merger involved 0.0718 shares of CRC for each Berry share.
Voting Results
Preliminary results indicate high approval rates for the transaction among Berry stockholders.
- Berry Corporation's acquisition by California Resources Corporation marks a significant development in the energy sector.
- The merger is expected to enhance the combined companies' operational capabilities and market position.
The approval of the combination with CRC signifies a major milestone for Berry Corporation, positioning it for future growth and success in the energy industry.