HOUSTON and FORT WORTH, Texas, July 13 /PRNewswire/ -- Anadarko Petroleum
Corporation (NYSE: APC) and Union Pacific Resources Group Inc. (NYSE: UPR)
announced that in separate special meetings held today in Houston and Ft.
Worth, the shareholders of both companies voted overwhelmingly to approve the
merger transaction involving the two companies.
Holders of approximately 93% of the Anadarko common stock voting voted to
approve the issuance of Anadarko common stock in the merger. Holders of
approximately 98% of the UPR common stock voting voted to approve the merger.
The merger is expected to close shortly.
The merger agreement calls for UPR shareholders to receive 0.455 shares of
Anadarko common stock for each common share of UPR they own.
In connection with approving the issuance of Anadarko common stock in the
merger, Anadarko shareholders also voted to increase the maximum size of the
company's Board of Directors from nine to fifteen members.
The combined company will be named Anadarko Petroleum Corporation. It
will be traded on the NYSE under the symbol APC and will continue to be
headquartered in Houston, TX.
SOURCE Anadarko Petroleum Corporation and Union Pacific
Resources Group Inc.
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Related links:
http://www.anadarko.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990430/ANADARKOLOGO
PR Newswire Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/038950.html or fax,
800-758-5804, ext. 038950
CONTACT:
analysts and investors, A. Paul Taylor of
Anadarko Petroleum Corporation, 281-874-3471; or Patrick Mooney,
817-321-7169, or David Larson, 817-321-7294, both of Union
Pacific Resources Group Inc.; or media, Tony Canino of Anadarko
Petroleum Corporation, 281-873-3855; or Dan Sullivan of Union
Pacific Resources Group Inc., 817-321-6527
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