The $2.5 billion takeover of Papua New Guinea-focused player InterOil by U.S.-based energy giant ExxonMobil requires a final order by a Canadian Supreme Court, InterOil said on Wednesday.
The closing of the transaction “would require issuance of the final order by the Supreme Court of Yukon no later than the close of business on Thursday, September 29,” InterOil said in its statement.
The hearing was held on September 27 and the court is considering the matter, including an objection filed by former InterOil CEO Phil Mulacek, the statement reads.
ExxonMobil and InterOil intend to close the transaction promptly after the final order is obtained.