Devon and WPX to close merger this week


In approving a merger this week with WPX Energy of Tulsa, shareholders in Oklahoma City’s Devon Energy also gave their nod to issuing common stock to WPX shareholders.

Devon filed the information with the U.S. Securities Exchange Commission showing the common stock, with a par value of 10-cents a share would be issued to the stockholders of WPX Energy, Inc.

Devon’s filing also revealed the stock issuance plan was approved by a vote of 268,824,101 in support and 415,988 against. The abstained votes totaled 691,113.

Both companies anticipate the formal closing of the merger to be on or about Jan. 7, 2021.

Source: SEC


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