Vanguard Natural Resources LLC (NASDAQ: VNR) and Eagle Rock Energy Partners LP (NASDAQ: EROC) confirm that the unitholders of Eagle Rock have approved the proposed merger of Eagle Rock and Vanguard and that the unitholders of Vanguard have approved the issuance of common units representing limited liability company interests in Vanguard to be issued as merger consideration to the unitholders of Eagle Rock.
At a special meeting held today by Eagle Rock, 62% of Eagle Rock’s outstanding common units (representing 96% of all votes cast) were voted in favor of the merger. At Vanguard’s annual meeting, also held today, 93% of votes cast by Vanguard unitholders were in favor of the issuance of the Vanguard common units. Both approval levels satisfy the requisite closing conditions to consummate the merger.
Vanguard and Eagle Rock expect the transaction to close on Oct. 8.