WPX - Devon WPX Energy shareholders approve merger in special meetings

The shareholders of both Devon Energy (DVN) and WPX Energy (WPX) voted to approve all proposals needed to close the previously announce all-stock merger of equals between the two companies.The merger is expected to close on Jan. 7, 2021.At a special meeting of of Devon shareholders, more than 70% of Devon shares were represented and more than 99% of the votes were cast in favor of the transaction.At the WPX special meeting, more than 87% of WPX shares were represented and more than 99% of the votes cast were in favor of the deal.According to their statement in September, the two energy companies expect the merger to generate $575M in annual cash flow improvements by the end of 2021.

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Devon, WPX Energy shareholders approve merger in special meetings