Devon Energy and Coterra Energy (CTRA) Win Shareholder Approval for Merger

On May 4, 2026, Devon Energy (NYSE:DVN) and Coterra Energy Inc. (NYSE:CTRA) said shareholders approved each proposals needed to implicit the antecedently announced all-stock merger betwixt the companies. The transaction is expected to adjacent connected oregon astir May 7. Under the agreement, each stock of Coterra communal banal volition beryllium converted into 0.70 shares of Devon communal stock, with currency paid for fractional shares. Following the merger, Devon shareholders are expected to ain astir 54% of the combined company, portion Coterra shareholders volition ain astir 46% connected a afloat diluted basis.

Meanwhile, Scotiabank raised its terms people connected Coterra Energy Inc. (NYSE:CTRA) to $32 from $31 and maintained a Sector Perform standing arsenic portion of a broader update connected vigor names.

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Coterra Energy Inc. (NYSE:CTRA) is an autarkic lipid and state shaper focused connected oil, earthy gas, and earthy state liquids successful the United States.

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