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Enerflex Ltd. (TSX:EFX) ("Enerflex") and Exterran Corporation (NYSE:EXTN) ("Exterran"), are pleased to announce that they have received all necessary shareholder and stockholder approvals in connection with the pending acquisition of Exterran by Enerflex, to create a premier integrated global provider of energy infrastructure and energy transition solutions (the "Transaction"). The Transaction is expected to be completed on or about October 13, 2022, and is subject to the satisfaction of all closing conditions.
On October 11, 2022, Enerflex held a special meeting of shareholders, whereby the resolution authorizing the issuance of Enerflex common shares to Exterran stockholders, pursuant to and in connection with the Transaction, was approved by approximately 80% of the votes cast, representing approximately 75% of the outstanding Enerflex common shares as of September 9, 2022.
Also on October 11, 2022, Exterran held a special meeting of stockholders, whereby the merger agreement was approved by approximately 100% of the votes cast, representing approximately 75% of the outstanding Exterran common stock as of September 7, 2022.
"We are pleased to have obtained shareholder and stockholder approval as we near the completion of our transformational acquisition of Exterran," explained Marc Rossiter, Enerflex's President and Chief Executive Officer. "As we look ahead to the future, we are laser-focused on our integration efforts to become a more resilient, profitable, and efficient Enerflex, and maximize long-term value for all our new and existing shareholders."
