Canada’s Cenovus Energy to buy Husky Energy for C$23.6 billion

Steam generators line a road at the Cenovus Energy Christina Lake Steam-Assisted Gravity Drainage project 120km south of Fort McMurray, Alberta, Canada, – REUTERSPIXCanadian oil and gas producer Cenovus Energy Inc will buy peer Husky Energy Inc in an all-stock transaction valued at C$23.6 billion , inclusive of debt, the companies said in a joint statement today.

Earlier this month Concho Resources Inc agreed to being taken over by ConocoPhillips for US$9.7 billion. That followed Chevron Corp's US$4.2 billion purchase of Noble Energy. The combined company is expected to generate annual synergies of C$1.2 billion and will operate as Cenovus Energy Inc with headquarters in Alberta, Canada, the statement said.

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