NuVista Shareholders Approve 99% of Transaction with Ovintiv
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Source: Newsfilter
- Shareholder Voting Outcome: At NuVista's special meeting, approximately 99% of shareholders voted in favor of the transaction with Ovintiv, demonstrating strong shareholder confidence that paves the way for a smooth transaction process.
- Court Approval: The Court of King's Bench of Alberta granted the Final Order for the transaction, which is expected to close shortly after satisfying other customary closing conditions, accelerating the integration process between NuVista and Ovintiv.
- Election Results for Consideration: As of the election deadline, NuVista shareholders could choose cash or shares as consideration, with preliminary results indicating that shareholders opting for cash will receive 100% cash consideration, reflecting a preference for liquidity.
- Transparent Consideration Structure: The total cash consideration available in the transaction is approximately CAD 1.57 billion, with share consideration amounting to about 30.1 million Ovintiv shares, ensuring that shareholders maximize their benefits from the transaction.
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Analyst Views on OVV
Wall Street analysts forecast OVV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OVV is 51.00 USD with a low forecast of 42.00 USD and a high forecast of 56.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
13 Buy
4 Hold
0 Sell
Strong Buy
Current: 42.760
Low
42.00
Averages
51.00
High
56.00
Current: 42.760
Low
42.00
Averages
51.00
High
56.00
About OVV
Ovintiv Inc. is an oil and natural gas exploration and production company that is focused on developing its multi-basin portfolio of assets located in the United States and Canada. Its operations include the marketing of oil, natural gas liquids (NGLs) and natural gas. Its segments include USA operations and Canadian Operations. USA Operations include the exploration for, development of, and production and marketing of oil, NGLs, natural gas and other related activities within the United States. Canadian Operations include the exploration for, development of, and production and marketing of oil, NGLs, natural gas and other related activities within Canada. Its assets include Anadarko Basin, Montney, and Permian Basin. Anadarko is a liquids-rich play located in west-central Oklahoma in Blaine, Canadian, Custer, Dewey, Garvin, Grady, Kingfisher, McClain and Stephens counties. Montney is a condensate and natural gas play located in northwest Alberta and northeast British Columbia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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