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Cenovus Energy Shares Drop After $3.8b Deal to Buy Husky Energy
Source: Dan Healing The Canadian Press, globalnews.ca, October 28th, 2020
A huge deal in Alberta’s oil patch was announced. Cenovus Energy is buying Husky Energy.
The all-share deal by Cenovus Energy Inc. to buy Husky Energy Inc. for about $3.8 billion will likely spark more mega-mergers among Canadian oil and gas majors, according to a veteran oilsands analyst.
“This is likely just the start of big deals in Canadian energy land and thus it begs the question of who is next?” said analyst Phil Skolnick of Eight Capital in a report on Monday.
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