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9/28/2020, 1:33 PM (Source: TeleTrader)
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Devon Energy acquires WPX Energy in all-stock deal

Devon Energy Corporation, a company engaged in hydrocarbon exploration in the United States announced on Monday it is acquiring its rival WPX Energy Inc through an all-stock deal.

According to the official announcement, a newly founded company will be worth approximately $12 billion.

WPX shareholders are supposed to get 0.5165 shares of Devon common stock for every share of WPX common stock owned.

Breaking the News / TF