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CS - Encana to pay $282MM to cancel 3.5% of outstanding shares - September 2019
EnCana will pay $282 million (US$213 million) to purchase 47,333,333 common shares, cancelling about 3.5% of issued and outstanding shares. The E&P firm’s substantial issuer offer of US$4.50 per share was oversubscribed by nearly triple the number of shares acquired. A total of 127,957,593 shares were properly tendered and not properly withdrawn, according to the final count by AST Trust Co., the depositary for the offer. As the offer was oversubscribed, shareholders who made......
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