Encana (ECA) Update - Jan 16

[dan_s]

Encana currently carries a Zacks Rank #2 (Buy).

Zacks Equity Research
,Zacks•January 16, 2020
Encana Corporation ECA recently announced that 90% of its shareholders have voted in favour of the reorganization resolution wherein it intends to redomicile in the United States under the new name, Ovintiv Inc. The company had earlier confirmed the plan to relocate.

Through this restructuring, Encana with approximately 71% of its shareholders in the United States and 20% in Canada will effectively exchange five common shares of Encana for each Ovintiv common stock.

The transition will take place this year after which, shares of the company will be dually traded on both the Toronto and New York stock exchanges under the ticker symbol, OVV.