Ovintiv and Nuvista Shareholder Consideration Results

By Chris Stiles • Sunday, January 25 02:37 • Permanent Link

Nuvista Energy Ltd. and Ovintiv Inc. have announced the preliminary results of the elections made by Nuvista shareholders regarding the form of consideration they wish to receive in connection with the transaction. Shareholders who elected to receive cash consideration in respect of all of their Nuvista shares will receive 100% of their total consideration as cash consideration. Those who elected to receive share consideration in respect of all of their Nuvista shares will receive about 58% of their total consideration as share consideration and approximately 42% as cash consideration. Nuvista shareholders who did not make a valid election prior to the election deadline or who elected to receive 50% cash consideration and 50% share consideration in respect of their Nuvista shares will receive approximately 71% of their total consideration as cash consideration and approximately 29% as share consideration. These results are preliminary, and the final allocation of the cash consideration and share consideration will be calculated in accordance with the arrangement agreement among Nuvista, Ovintiv, and Ovintiv Canada. Following these announcements, the company's shares moved -0.65%, and are now trading at a price of $39.69. For more information, read the company's full 8-K submission here.

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