Shareholders of Verenex Energy overwhelming approved the C$317 million ($299 million) sale of the small Canadian oil explorer on Friday to a Libyan sovereign wealth fund, ending an international takeover battle that saw Libya block a richer offer from China. Shareholders voted 99.95% in favor of the C$7.09/share offer from the Libyan Investment Authority (LIA). Verenex also plans to distribute its working capital to investors, adding as much as another C15￠/share to the price.
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