Encana Corp. and Newfield Exploration Co. expect to close on a deal to combine on Feb. 13 following approval of necessary proposals at the special shareholder meetings held Feb. 12.
Encana Corp. and Newfield Exploration Co. expect to close on a deal to combine on Feb. 13 following approval of necessary proposals at the special shareholder meetings held Feb. 12 (OGJ Online, Nov. 1, 2018).
Upon completion of the transaction, subject to remaining closing conditions, Encana shareholders prior to the merger will own about 63.5% and Newfield stockholders prior to the merger will own about 36.5% of the combined company.
The deal will give Newfield stockholders 2.6719 Encana common shares for each share of Newfield common stock.