A Yukon Supreme Court decision has allowed Exxon Mobil Corp. to purchase InterOil Corp. after the plan of arrangement was scuppered by the Yukon court of appeal in November.
The appellate court found that a one-line fairness opinion provided to InterOil's shareholders was insufficient to allow those shareholders to "make an informed choice" about the transaction.
Further, the financial adviser had a success fee included as a term.
It was back to the drawing board, and a new iteration was approved.
Lexpert contributor Julius Melnitzer reports at www.lexpert.ca.
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