Devon Energy to acquire Coterra Energy in all-stock merger with 0.70 exchange ratio

DEVON ENERGY CORP/DE

All-stock merger: 0.70 DVN shares per Coterra share; Devon holders get ~54% of combined co.
Post-closing: Coterra CEO becomes Chairman; Devon CEO remains CEO; Coterra CFO becomes CFO.
Board: 11 directors (6 from Devon, 5 from Coterra); name remains Devon, ticker DVN.
Termination fee of $865M; closing targeted by Aug 2026, extendable for antitrust.
Requires approvals from both companies' stockholders, HSR, and SEC registration.

item 1.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DEVON ENERGY CORP/DE entered into Agreement and Plan of Merger with Coterra Energy, Inc. (effective 2026-02-01).

Action: entry
Agreement: merger
Counterparty: Coterra Energy, Inc.
Effective: 2026-02-01

Exact text from the filing

Merger Agreement On February 1, 2026, Devon Energy Corporation, a Delaware corporation (the “ Company ” or “ Devon ”), Cubs Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of the Company (“ Merger Sub ”), and Coterra Energy, Inc., a Delaware corporation (“ Coterra ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”).

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DEVON ENERGY CORP/DE filing history →

Source: SEC EDGAR

accession 0001193125-26-032720

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