Coterra Issues Supplemental Disclosures on Devon Merger Agreement

Coterra Energy has issued supplemental financial and valuation disclosures regarding its upcoming merger with Devon Energy, following allegations of disclosure deficiencies from purported stockholders. The company released these details to mitigate litigation risks and avoid merger delays, while maintaining that its initial proxy disclosures were sufficient. The supplemental information includes discounted cash flow and future share price analyses by Goldman Sachs for both companies, as well as a precedent transaction premium analysis for similar U.S. exploration and production deals.