NFX Newfield Exploration Company

By Michael Dabaie

Encana Corp.'s (ECA) acquisition of Newfield Exploration Co. (NFX) received approval at shareholder meetings Tuesday.

The transaction is expected to close Wednesday. Newfield stockholders will receive 2.6719 Encana common shares for each share of Newfield common stock. Upon completion, Encana shareholders will own about 63.5% of the combined company and Newfield stockholders 36.5%.

Encana in November said it agreed to buy fellow oil-and-gas company Newfield in a stock swap valued at about $5.5 billion.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

February 12, 2019 11:05 ET (16:05 GMT)

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