Encana to Buy Newfield Exploration in $5.5 Billion Stock Swap
01 Noviembre 2018 - 4:57AM
Noticias Dow Jones
By Colin Kellaher
Encana Corp. (ECA.T, ECA) on Thursday said it agreed to buy
Newfield Exploration Co. (NFX) in a stock swap valued at about $5.5
billion.
Encana said it will issue 2.6719 common shares for each Newfield
share. The deal values Newfield at about $27.36 a share, a roughly
35% premium based on Wednesday's U.S. closing prices of $10.24 for
Encana and $20.20 for Newfield.
Encana shareholders will own about 63.5% of the combined
company, while Newfield shareholders will own about 36.5%.
Encana will also assume $2.2 billion of Newfield debt.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 01, 2018 06:42 ET (10:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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