Devon Energy And WPX Energy Shareholders Approve Merger Of Equals

OKLAHOMA CITY (dpa-AFX) - Devon Energy Corp (DVN) and WPX Energy, Inc. (WPX) announced the shareholders of both companies voted in favor of all proposals necessary for the closing of previously announced all-stock merger of equals between Devon and WPX. Devon Energy specified that the merger is anticipated to close on January 7, 2021.

Under deal terms, WPX shareholders will receive a fixed exchange ratio of 0.5165 shares of Devon common stock for each share of WPX common stock owned.

At the special meeting of Devon shareholders, more than 70 percent of Devon shares were represented, and more than 99 percent of the votes cast were in favor of the transaction.

At the special meeting of WPX shareholders, more than 87 percent of WPX shares were represented, and more than 99 percent of the votes cast were in favor of the transaction.

Copyright RTT News/dpa-AFX