01:15 PM EDT, 05/24/2024 (MT Newswires) -- Enerplus ( ERF ) on Friday said shareholders voted to approve the US$3.8 billion sale of the oil and gas producer to Chord Energy ( CHRD ) .

The company said 99.6% of shares were voted in favor of Chord's February offer of 0.10125 of its shares and US$1.84 for each Enerplus ( ERF ) share. The company also said the sale received Investment Canada Act approval.

The sale is expected to close by May 31, subject to the receipt of a final order from the Court of King's Bench of Alberta in a hearing scheduled for May 28, and the satisfaction or waiver of other customary closing conditions.

Enerplus ( ERF ) shares were last seen up C$0.13 to C$27.45 on the Toronto Stock Exchange.

Price: 27.46, Change: +0.14, Percent Change: +0.51