By Michael Dabaie
Encana Corp acquisition of Newfield Exploration received approval at shareholder meetings Tuesday.
The transaction is expected to close Wednesday. Newfield stockholders will receive 2.6719 Encana common shares for each share of Newfield common stock. Upon completion, Encana shareholders will own about 63.5% of the combined company and Newfield stockholders 36.5%.
Encana in November said it agreed to buy fellow oil-and-gas company Newfield in a stock swap valued at about $5.5 billion.
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