Hamm made his initial buyout offer in January, when he and his affiliates proposed a deal worth about $65 million to take the Enid natural gas gathering and processing companies private. Hamm, who is chairman of both companies, increased his offer Monday for the shares he does not own. Hiland Partners shareholders will get $10 per share, according to Hamm's latest offer, while Hiland Holdings shareholders will get $3.20 a share. The original offer had been $7.50 for each Hiland Partners share and $2.40 for each Hiland Holdings share. Shareholders meetings are scheduled for Wednesday in Enid. Majority rules A majority of shareholders must approve the proposed deal by Nov. 1 for it to go forward. Two shareholders meetings were postponed last week, after about 58 percent of shareholders cast proxy ballots on the merger proposal, officials said. Only 43 percent of the shareholders were in favor of the deals when the ballots were tallied. To see more of The Oklahoman, or to subscribe to the newspaper, go to http://www.newsok.com. Copyright (c) 2009, The Oklahoman, Oklahoma City Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. For full details for HLND click here.
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