Deals - Acquisition, Mergers, Divestitures
Forestar Group Closes on Credo Acquisition
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Credo Petroleum Corporation said today that its previously-announced acquisition by Forestar Group Inc. (“Forestar”) has been completed.
The transaction was originally announced on June 4, 2012 following execution of a merger agreement between the companies. The merger was approved by the Company’s stockholders of record at a special meeting of the stockholders held on September 25, 2012. Approximately 73% of the outstanding shares of common stock of Credo were present in person or by proxy at the meeting. Over 99% of the shares present were voted in favor of the proposal to approve and adopt the merger agreement. With the completion of the merger, Credo became a wholly-owned subsidiary of Forestar and its stock will cease trading on the NASDAQ Global Market at market close today.
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