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Pembina & Veresen Announce Common Shareholder Consideration Election Results
Pembina & Veresen Announce Common Shareholder Consideration Election Results P...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina & Veresen Announce Common Shareholder Consideration Election Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nPembina & Veresen Announce Common Shareholder Consideration Election Results\nCanada NewsWire\nCALGARY, Sept. 22, 2017\n\n\n\nCALGARY, Sept. 22, 2017 /CNW/ - Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) (\"Pembina\") and Veresen Inc. (TSX: VSN) (\"Veresen\") have announced the results of elections by Veresen common shareholders (\"Shareholders\") to receive either Pembina common shares or cash pursuant to the previously announced plan of arrangement (the \"Arrangement\"). \n\nBased on elections received and applicable pro rationing, each Shareholder who elected cash will receive (i) cash in an amount equal to approximately $6.4314, and (ii) approximately 0.2809 of a Pembina common share, in each case multiplied by the number of Veresen common shares held by such shareholder. Shareholders who elected Pembina common shares or did not make an election will not be subject to pro-rationing and will receive 0.4287 of a Pembina common share for each Veresen common share held. No fractional Pembina shares will be issued pursuant to the Arrangement and therefore the consideration received by any individual shareholder may be subject to adjustment according to the provisions for rounding described in the management information circular of Veresen dated June 5, 2017. Based on the pro rationing described herein, total consideration for the acquisition of Veresen common shares shall consist of approximately $1.5225 billion in cash and approximately 99.466 million common shares of Pembina. Receipt of any consideration by Shareholders remains subject to the closing of the Arrangement, which, in turn, remains subject to approval under the Competition Act (Canada).  \n\nAbout Pembina\n\nCalgary-based Pembina is a leading transportation and midstream service provider that has been serving North America's energy industry for over 60 years. Pembina owns and operates an integrated system of pipelines that transport various products deriv...