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Announced

Completed

Devon Energy completed the merger with WPX Energy in a $12bn deal.

Financials

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Transaction Value£9,408m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales2.5x
EV/EBITDA5.3x
Share Price Premium-
One Off Charge-

Tags

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Majority

Integrated Oil and Gas

hydrocarbon exploration

Merger

oil and gas company

Public

Acquisition

Friendly

Single Bidder

Private Equity

United States

Domestic

Completed

Synopsis

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Devon Energy, an independent energy company that is involved primarily in oil and gas exploration, development and production, completed the merger with WPX Energy, a company engaged in hydrocarbon exploration, in a $12bn all-stock deal. The combined company will operate under the name Devon Energy and be headquartered in Oklahoma City. “This transformational merger enhances the scale of our operations, builds a dominant position in the Delaware Basin and accelerates our cash-return business model that prioritizes free cash flow generation and the return of capital to shareholders. We are excited to combine our teams and we look forward to executing on our disciplined strategy to create value for all of our stakeholders,” Dave Hager, Devon Energy President and CEO.

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