TORONTO, May 28, 2024 /CNW/ - The shareholders of Chord Energy Corporation (NASD: CHRD) and Enerplus Corporation (TSX: ERF) (NYSE: ERF) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Enerplus will be exchanged for 0.10125 shares of Chord and US$ 1.84 cash. Enerplus will be removed from the S&P/TSX Composite Index prior to the open of trading on May 31, 2024. The shares outstanding of Chord will be increased at the same time to reflect the issuance of shares.
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