Columbia Pipeline Partners LP (CPPL) announces that it has adjourned the special meeting of unitholders that took place on 7 February, until 16 February at 9 a.m. (Central Time). The reconvened special meeting will again be held at 1001 Fannin St., Suite 2500, Houston, Texas 77002.
The purpose of the special meeting is to vote on a proposal to approve the agreement and plan of merger dated as of 1 November 2016 (merger agreement), by and among CPPL, Columbia Pipeline Group, Inc. (CPG) and their respective affiliates, pursuant to which a wholly owned subsidiary of CPG will merge with and into CPPL such that CPPL will become a wholly owned subsidiary of CPG (merger).
As of the commencement of the special meeting, CPPL has not obtained a quorum to hold the special meeting. Because quorum requires the presence, in person or by proxy, at the special meeting of holders of a majority of the outstanding CPPL common units as of 4 January 2017, the record date of the special meeting, CPPL adjourned the special meeting to allow for additional time to solicit proxies from unitholders. To date, approximately 96% of the votes cast are in support of the merger. Unless we obtain a quorum for the special meeting, the merger cannot take place. Common unitholders who have not already submitted a proxy are encouraged to do so as soon as possible.
The record date for determining unitholders eligible to vote at the special meeting will remain the close of business on 4 January 2017. Valid proxies submitted by common unitholders prior to the adjourned 7 February 2017 special meeting will continue to be valid for purposes of the reconvened special meeting scheduled for 16 February 2017.
Read the article online at: https://www.worldpipelines.com/business-news/09022017/unitholders-meeting-adjourned-for-columbia-pipeline-partners/