Hanover Compressor, Universal Compression merger to be decided Aug. 16

By Lisa Kerner

Charlotte, N.C., July 11 - Hanover Compressor Co. and Universal Compression Holdings, Inc. will hold their annual shareholders' meetings separately on Aug. 16 for the purpose of voting on the companies' proposed merger.

The record date for the meetings is June 28, according to a company news release.

As previously reported, the Feb. 5 merger proposal provides for each common share of Hanover to be converted into 0.325 of a share of common stock of a newly created holding company called Exterran Holdings, Inc. and each common share of Universal to be converted into one share of common stock of Exterran.

The transaction is expected to close on or about Aug. 20.

Houston-based Hanover provides services for the oil and natural gas industry.

Universal Compression Holdings, also based in Houston, is a natural gas compression services company.

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