A Canadian court has approved ExxonMobil’s $2.5 billion acquisition of InterOil.
InterOil confirmed that the Supreme Court of Yukon has granted a final order approving the arrangement between InterOil and Exxon.
The arrangement was approved by more than 91 percent of the shares voted at a special meeting on February 14.
The deal has now received all necessary approvals.
Exxon agreed in July to acquire all of the outstanding shares of InterOil.
At the time of the announcement the transaction was worth more than $2.5 billion.
Exxon’s offer calls for a payment of $45 per share of InterOil, paid in Exxon shares, at closing.
The agreement came just five days after Exxon made an unsolicited offer for InterOil that beat a previous offer made by Australia-based Oil Search.
InterOil said on Monday that the transaction is expected to be completed sometime this week.
InterOil is an independent oil and gas business with a sole focus on Papua New Guinea.
InterOil’s assets include one of Asia’s largest undeveloped gas fields, Elk-Antelope.