Volta stockholders approve merger transaction with Shell USA

Volta (VLTA) stockholders approved the proposal to adopt the agreement and plan of merger dated January 17 under which Shell USA, a subsidiary of Shell (SHEL), has agreed to acquire Volta through a merger of a direct, wholly-owned subsidiary of Shell USA with and into Volta, with Volta continuing as the surviving corporation in the merger. The transaction is expected to close on or about March 31 subject to customary closing conditions. Following the closing of the transaction, shares of Volta common stock will be delisted from trading on the NYSE and de-registered. Volta stockholders will be entitled to receive $0.86 in cash, without interest and net of withholding taxes, for each share of Volta Class A common stock upon the completion of the merger.