CTRA: 8-K · acquisition merger
Coterra Energy Inc. stockholders approved the Agreement and Plan of Merger with Devon Energy Corporation at a special meeting held on May 4, 2026. The Coterra Merger Proposal received 623,592,882 votes in favor, significantly outweighing the votes against and abstentions. The Advisory Compensation Proposal regarding executive compensation tied to the merger was also approved by stockholders. Coterra expects the transactions contemplated by the Merger Agreement to close on or about May 7, 2026, subject to the satisfaction of customary closing conditions.
Devon Energy and Coterra Energy Shareholders Approve Merger
Shareholders of Devon Energy and Coterra Energy approved all proposals required to complete the all-stock merger between the two companies. Voting results indicated overwhelming support, with over 98% of votes cast at Devon and over 99% at Coterra in favor of the transaction. Each share of Coterra common stock will convert into 0.70 shares of Devon common stock, with the merger expected to close on or around May 7, 2026.
Veeva Systems Set to Join S&P 500
Coterra Energy Inc. (CTRA) will be removed from the S&P 500 effective prior to the open of trading on May 7, 2026. The deletion is driven by the news that S&P 500 constituent Devon Energy Corp. (DVN) is acquiring Coterra Energy in a deal expected to close soon. Veeva Systems Inc. (VEEV) has been named as the replacement company, joining the index as a Health Care sector representative.
