Core Viewpoint - NuVista Energy Ltd. has filed its management information circular for a special meeting regarding a plan of arrangement with Ovintiv Inc. and its subsidiary, offering shareholders a choice of cash or shares as consideration for their NuVista shares [1][2]. Arrangement Details - Shareholders can elect to receive either C$18.00 in cash per NuVista share, 0.344 of an Ovintiv share per NuVista share, or a combination of both [2]. - The arrangement agreement was dated November 4, 2025, and is designed to provide shareholders with flexible options for their shares [2]. Strategic Benefits for Shareholders - The cash consideration of C$18.00 represents a 21% premium to the unaffected 20-day volume-weighted NuVista share price as of September 19, 2025 [6]. - This premium is significant as it is higher than any closing price achieved on NuVista shares in the last 15 years [6]. - Shareholders will own approximately 10.6% of Ovintiv shares post-arrangement, providing exposure to a larger entity with operations in North America's top unconventional plays [6]. - Ovintiv's current annualized dividend of US$1.20 per share, subject to board approval, offers an enhanced return of capital for shareholders [6]. - The arrangement provides shareholders with exposure to an investment-grade entity with a pro forma enterprise value of approximately C$25 billion [6]. Meeting Details - The special meeting will be held on January 23, 2026, at 8:00 a.m. in Calgary, Alberta, where shareholders are encouraged to vote in advance [5]. - The deadline for proxy voting is January 21, 2026, at 8:00 a.m. [5]. Communication and Documentation - The mailing of the management information circular to registered shareholders commenced on December 12, 2025 [7]. - Beneficial shareholders can request a paper copy of the circular at no cost [7]. - The circular and related materials are available on NuVista's SEDAR+ profile and website [8].
NuVista Energy Files Management Information Circular for Arrangement With Ovintiv