Feds sign off on major step in Devon and WPX Energy merger

 

Devon Energy in Oklahoma City and WPX Energy of Tulsa have received government approval of their announced merger.

In a Friday update, Devon Energy stated regulatory approval to proceed from what’s known as the HSR or Hart-Scott-Rodino Act clearance came from the Federal Trade Commission and the Justice Department.

The two companies also filed an S-4 registration or proxy statement with the Securities and Exchange Commission. It might be reviewed by the SEC for compliance purposes.

The filing by executives David Harris and Clay Gaspar also indicated that the integration Steering team named by the two firms met this past week and affirmed the merger integration priorities.

The priorities, according to the filing are to deliver a successful merger on Day One, exceed announced synergies and to build a world class go-forward Devon.

The filing stated that the Steering team also met to discuss steps to “assess both companies’ current cultures through a series of interviews and culture survey.”

Click here to view entire Devon filing with SEC.