After a take-over bid for InterOil (NYSE:IOC) by OilSearch (OSH) was topped by Exxon (NYSE:XON), even paying the $60M fine on behalf of InterOil to OilSearch. The InterOil board proposed shareholders to accept the Exxon offer, as they had done with the OilSearch offer.
Shareholders approved with roughly 80% of the shares voted (the latter amounted to 72% of outstanding shares), with the notable exception of founder and former InterOil CEO Phil Mulacek and roughly 10% of the shares dissented with Mulacek.
The Exxon deal
$45 per InterOil share in shares Exxon. A Contingent....More>>>