Adams Resources & Energy, Inc. (AE) has announced that its shareholders have given the green light for the company to be acquired by a subsidiary of Tres Energy LLC. This decision was made during a specially convened meeting.
The merger agreement stipulates that Adams shareholders will receive $38.00 in cash for each common share they hold before the merger takes effect.
Approximately 77% of the company's shares participated in the Special Meeting's vote, with more than 76% supporting the merger. The detailed voting outcome will be disclosed in a Form 8-K, which the company will file with the SEC.
AE anticipates that the merger will be finalized by early February 2025.
Presently, AE's stock is trading at $37.94, a marginal change of 0.08%, on the New York Stock Exchange.
