X-Energy and Ares Acquisition (AAC) Mutually Agree to Terminate Business Combination Agreement
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X-energy and Ares Acquisition Corporation Mutually Agree to Terminate Business Combination Agreement
October 31, 2023 7:38 AM EDTROCKVILLE, Md. & NEW YORK--(BUSINESS WIRE)-- X-Energy Reactor Company, LLC (X-energy), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, and Ares Acquisition Corporation (NYSE: AAC) (AAC), a publicly-traded special purpose acquisition company, announced today that they have mutually agreed to terminate their previously announced business combination agreement (the Business Combination Agreement), effective immediately. As a result, the extraordinary general meeting of AAC shareholders scheduled for October 31, 2023 to approve the proposed transaction will be convened and then adjourned indefinitely. Additionally, the extraordinary general meeting of AAC shareholders scheduled for... More
