Encana completes acquisition of Newfield Exploration
Acquisition Encana Corporation
Encana Corporation announced that it has completed its acquisition of Newfield Exploration Company in an all-stock transaction.
Encana will proceed with its previously announced $1.25 billion share buyback in 2019, following receipt of regulatory approvals, and increase its dividend by 25 percent.
In connection with the closing of the acquisition, Encana intends to implement cross guarantees whereby Encana will guarantee Newfield’s outstanding notes and Newfield will guarantee Encana’s outstanding notes. ■
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