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Pembina & Veresen Announce Veresen Shareholder Approval of Business Combination
Pembina & Veresen Announce Veresen Shareholder Approval of Business Combination ...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina & Veresen Announce Veresen Shareholder Approval of Business Combination\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 Veresen Shareholder Approval of Business Combination\nCanada NewsWire\nCALGARY, July 11, 2017\n\n\n\nCALGARY, July 11, 2017 /CNW/ - Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) (\"Pembina\") and Veresen Inc. (TSX: VSN) (\"Veresen\") are pleased to announce that Veresen shareholders, at Special Meetings of Veresen's common and preferred shareholders held today, voted to approve the previously announced plan of arrangement (the \"Arrangement\") between Pembina and Veresen (the \"Transaction\") that will create one of the largest energy infrastructure companies in Canada. \n\nGreater than 99 percent of Veresen common shares voted at the meeting were voted in favor of the Arrangement, with approximately 62 percent of Veresen's outstanding common shares voted at the meeting. Greater than 99 percent of Veresen preferred shares voted at the meeting were voted in favor of the Arrangement, with approximately 36 percent of Veresen's outstanding preferred shares voted at the meeting.\n\n\"We are very pleased with the overwhelming support of our shareholders to create a leading Canadian energy infrastructure business,\" said Don Althoff, President and Chief Executive Officer of Veresen. \"We strongly believe that the combined company is greater than the sum of its parts and will be well positioned to compete for future investment opportunities in order to drive significant growth over the long term.\"\n\n\"I am very pleased that Veresen shareholders recognize the merits of this transaction and showed their support at the meeting,\" said Mick Dilger, Pembina's President and Chief Executive Officer. \"With increased size and scale, and the significant operational synergies we will realize, the integration of Pembina and Veresen supports our consolidated adjusted EBITDA growth and positions us for top-tier performance going forward. Immediately accretive to free cash flow, this transaction enhances each company'...