Ovintiv agrees to acquire NuVista Energy in cash-and-stock deal
Ovintiv Inc. and its subsidiary Ovintiv Canada ULC signed an Arrangement Agreement dated November 4, 2025 to acquire NuVista Energy Ltd. in a transaction paying a mix of cash and Ovintiv common stock, subject to NuVista shareholder approval, court approval and regulatory clearances. The filing states that the deal is not complete and that closing depends on conditions that include approval under Canada's Competition Act and Investment Canada Act, with an outside date of May 4, 2026.
Key points
- NuVista shareholders can elect C$18.00 in cash or 0.344 of an Ovintiv share per NuVista share, or a combination, subject to pro-ration; on a fully pro-rated basis, each share receives about C$9.00 in cash and 0.172 of an Ovintiv share
- Ovintiv may issue up to 29,977,258 shares of common stock and up to C$1,568,577,429 in cash
- Closing requires approval by at least 66 2/3% of votes cast by NuVista shareholders and approval by the Court of King's Bench of Alberta
- A C$130 million termination fee is payable by NuVista to Ovintiv Canada in certain circumstances, and a C$130 million reverse termination fee is payable by Ovintiv Canada to NuVista in specified regulatory-failure circumstances
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 07, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.