Canadian companies have been under stress for six years, dating back to the last downturn, due to congested pipelines and the flight by foreign oil companies and investors due to Canada’s high production costs and emissions.Article content continued
“The diverse portfolio will enable us to deliver stable cash flow through price cycles…,” Alex Pourbaix, Cenovus President and Chief Executive Officer said. Cenovus said the deal would create Canada’s third-largest producer based on total company output behind Canadian Natural Resources Ltd and Suncor Energy Ltd.
Cenovus CEO Pourbaix will serve as chief executive of the merged company with Jeff Hart, currently Husky’s finance chief, becoming chief financial officer.
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Cenovus to buy Husky Energy in $23.6B deal, company to stay in AlbertaCenovus Energy Inc. will buy Husky Energy Inc. in an all-stock transaction valued at $23.6 billion, the Calgary-based companies said Sunday in a joint announcement. Is Cenovus merging with a company that is 70% owned by a Chinese company? In an “all stock” deal what portion of Cenovus will be in the hands of Chinese investors? What about the South China Sea property ? And oil companies suffering? What total bullshit. Why is sleazy weasel handing them billions of dollars?
Source: CTVNews - 🏆 1. / 99 Read more »
Cenovus to buy Husky Energy in $23.6B deal, company to stay in AlbertaCenovus Energy Inc. will buy Husky Energy Inc. in an all-stock transaction valued at $23.6 billion, the Calgary-based companies said Sunday in a joint announcement. Is Cenovus merging with a company that is 70% owned by a Chinese company? In an “all stock” deal what portion of Cenovus will be in the hands of Chinese investors? What about the South China Sea property ? And oil companies suffering? What total bullshit. Why is sleazy weasel handing them billions of dollars?
Source: CTVNews - 🏆 1. / 99 Read more »