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M&A / Property

NuVista and Ovintiv Announce NuVista Shareholder Approval and Receipt of Final Order for Transaction with Ovintiv and Preliminary Results of Elections by NuVista Shareholders Regarding Form of Consideration

By The Northwire Desk — AI Analysis Jan 23, 2026 · 17:05 OVV · 56.23 OVINTIV INC.
OVV · Price

Executive Summary

  • NuVista Energy shareholders approved the proposed plan of arrangement with Ovintiv by ~99% at a special meeting.
  • The Alberta Court of King's Bench issued a Final Order confirming the transaction, pending customary closing conditions and Investment Canada Act approval.
  • Preliminary election results show how shareholders have elected to receive cash consideration ($18 CAD per share), Ovintiv shares (0.344 Ovintiv share per NuVista share), or a mix of both, with aggregate caps of ~$1.57 billion cash and ~30.1 million Ovintiv shares.

Key Details

  • Shareholder Approval: Approximately 99% of votes cast approved the Transaction Resolution at the special meeting.
  • Court Order: The Court of King's Bench of Alberta granted a Final Order in respect of the transaction.
  • Closing Conditions: Transaction expected to close shortly after receiving Investment Canada Act approval and satisfaction/waiver of other customary conditions.
  • Consideration Options (pre‑election deadline):
  • Cash: $18.00 CAD per NuVista share.
  • Share: 0.344 Ovintiv common shares per NuVista share.
  • Combination of cash and share, subject to rounding/proration with caps of ~C$1.57 bn cash and ~30.1 m Ovintiv shares.
  • Default Election: Shareholders who did not elect were deemed to receive a 50/50 split of cash and share consideration.
  • Preliminary Election Results (as of Jan 21, 2026):
  • All‑cash election: 100% cash consideration.
  • All‑share election: ~58% share, ~42% cash consideration.
  • No election/50‑50 election: ~71% cash, ~29% share consideration.
  • Preliminary Nature: Results are preliminary; final allocation will be calculated per the arrangement agreement dated Nov 4, 2025 (as amended).
  • Currency: All amounts expressed in Canadian dollars unless otherwise noted.

Notable Quotes

(No direct quotes from executives were included in the release.)

Read the original news release →

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