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Stock impact report

Dril-Quip Moves to Ease Innovex Merger, Scraps Charter Vote [Yahoo! Finance]

Dril-Quip, Inc. (DRQ) 
Last dril-quip, inc. earnings: 2/27 05:36 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The two companies have agreed to waive the requirement for Dril-Quip's stockholders to approve an amendment to the company's restated certificate of incorporation, also known as the charter amendment, as a condition for completing the merger. Key Decisions on Charter Amendment Proposal In a joint statement, Dril-Quip and Innovex confirmed that they will withdraw the charter amendment proposal (Proposal No. 2) and the related non-binding governance proposals (Proposal Nos. 3A – F) from the agenda of Dril-Quip's upcoming special stockholders meeting scheduled for Sept. 5, 2024. The withdrawn proposals pertained to post-merger governance provisions that some stockholders found contentious. This change implies that Dril-Quip's stockholders will no longer need to vote on these proposals, as outlined in the company's proxy statement/prospectus dated Aug. 6, 2024. By removing these governance provisions from the conditions of the merger, Dril-Quip and Innovex aim to facilitate a smooth Show less Read more
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