Loading articles...

Canadian Press NewsAlert: Cenovus to buy Husky Energy in deal valued at $23.6B

Last Updated Oct 25, 2020 at 6:44 am MST

CALGARY — Cenovus Energy is buying Husky Energy in an all-stock deal valued at $23.6 billion.

The Calgary companies say in a joint announcement that the combined company will be the third largest Canadian oil and natural gas producer, based on total company production.

Husky shareholders will receive 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share.

Cenovus CEO Alex Pourbaix will head the combined company.

More coming.

The Canadian Press