REG stockholders approve acquisition by Chevron
Renewable Energy Group Inc., a leading biobased diesel producer in North America, announced May 17 that its stockholders voted to adopt the previously announced definitive agreement in which REG will be acquired by Chevron Corp.
At the May 17 annual meeting, REG stockholders adopted the merger agreement with more than 80 percent of the shares outstanding and entitled to vote voting in favor of the merger.
REG expects to file with the Securities and Exchange Commission a current report on Form 8-K disclosing the final voting results.
“We are pleased with the outcome of today’s shareholder vote, which is a key step to closing the transaction,” said CJ Warner, president and CEO of REG. “After the transaction is complete, we believe the organization will continue delivering the sustainable fuels that our customers and the world need.”
The merger is expected to close mid-year, subject to customary closing conditions, including the receipt of regulatory approvals.
REG operates 11 biobased diesel refineries in the U.S. and Europe. In 2021, REG produced 480 million gallons of cleaner fuel delivering 4.1 million metric tons of carbon reduction.