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NUVISTA AND OVINTIV ANNOUNCE NUVISTA SHAREHOLDER APPROVAL AND RECEIPT OF FINAL ORDER FOR TRANSACTION WITH OVINTIV AND PRELIMINARY RESULTS OF ELECTIONS BY NUVISTA SHAREHOLDERS REGARDING FORM OF CONSIDERATION
Prnewswire· 2026-01-23 22:05
Core Viewpoint - NuVista Energy Ltd. and Ovintiv Inc. have successfully obtained shareholder approval for a planned arrangement, with approximately 99% of NuVista shareholders voting in favor of the transaction [1][2]. Group 1: Transaction Approval - The special resolution approving the transaction was passed at NuVista's special meeting, with about 99% of votes cast in favor [1]. - The Court of King's Bench of Alberta granted the Final Order for the transaction, which is expected to close shortly after receiving approval under the Investment Canada Act [2]. Group 2: Shareholder Elections - NuVista shareholders had the option to elect to receive either $18.00 (CAD) in cash, 0.344 of an Ovintiv share, or a combination of both, with a maximum aggregate cash consideration of approximately $1.57 billion (CAD) and a maximum of about 30.1 million Ovintiv shares [4]. - Preliminary results indicate that shareholders who elected for cash will receive 100% cash, those who chose shares will receive approximately 58% in shares and 42% in cash, while those who did not make a valid election will receive approximately 71% cash and 29% shares [5][6].