InterOil chairman Chris Finlayson

InterOil chairman ponders challenge against court decision

Business Advantage PNG reports that InterOil Chairman, Chris Finlayson, says he will challenge the decision by the court to stop the $US2.5 billion (K7.9 billion) transaction from taking place.

Meanwhile, founder and former Chairman of InterOil, Phil Mulacek, tells Business Advantage PNG  that he is open to dialogue.

On November 4, 2016, the Appeal Court of Yukon overturned the Yukon Supreme Court’s ruling that approved ExxonMobils proposal to purchase InterOil.

InterOil shareholders approve ExxonMobil purchase bid

More than 80 percent were in favour of the proposed transaction by ExxonMobil to acquire all outstanding shares of InterOil Corp announced last month, valued for more than $2.5 billion.

"I would like to thank our shareholders for their overwhelming support for this value-creating transaction," InterOil chairman Chris Finlayson said.

"This transaction delivers shareholders a material and immediate premium, a potential direct cash payment based on the Elk-Antelope resource certification and exposure to future value through ownership of ExxonMobil shares.