Continental Shareholders OK $340M Oil Asset Purchase

Law360, New York (August 10, 2012, 5:29 PM EDT) -- Shareholders of Continental Resources Inc. voted to approve a $340 million acquisition of oil assets Friday, a day after an Oklahoma federal judge rejected an attempt by a Louisiana retirement fund to keep the vote from happening.

U.S. District Judge Timothy D. DeGiusti held Thursday that the Louisiana Municipal Police Employees Retirement System failed to show that the details provided to shareholders of the proposed transaction were insufficient to allow them to cast an informed vote.

With the vote, Continental may now move forward with its...
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