Shareholders approve Technip, FMC merger

Shareholders of both French LNG-engineer Technip and Houston-based FMC Technologies voted on Monday to approve the proposed merger between the two companies.

According to a  joint statement by Technip and FMC, shareholders for the two companies met in separate meetings and approved resolutions to combine the companies.

FMC Technologies held a special meeting of its shareholders. Technip held an extraordinary general meeting of its shareholders, as well as a special meeting of the company’s shareholders that hold double voting rights.

The proposed combination remains subject to certain regulatory approvals and consents, as well as other customary closing conditions. In accordance with English law, the completion date will be set by an order of the Chancery Division of the High Court of Justice expected to be issued on December 21, the statement reads.

The merger has been previously cleared by antitrust authorities in the United States, the European Union, India, Turkey, Mexico, Russia, and Brazil.

The transaction is expected to close in early 2017.

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