• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Husky shareholders back friendly takeover by Cenovus for $3.8 billion in shares

December 15, 20209:57 AM The Canadian Press0 Comments

CALGARY – Husky Energy Inc. shareholders have approved a $3.8-billion all-share takeover bid by rival Cenovus Energy Inc., hours before Cenovus shareholders are widely expected to do the same.

The endorsement by Husky investors was resounding, with more than 95% of votes cast in favour of the acquisition.

Frank Sixt, a director of Husky Energy, told a special shareholder meeting today he’s confident the new company will be more competitive, profitable, and sustainable.

The acquisition comes at a pivotal time in Canada’s energy sector as the collapse in oil prices and global pandemic puts pressure on the oil and gas industry.

The combined company would create the third-largest Canadian oil and natural gas producer by total production, one that Cenovus CEO Alex Pourbaix says will better weather energy market volatility while generating more cash flow, reducing debt and cutting overall costs.

The transaction has been approved by both boards and is expected to close in the first quarter of 2021, pending both shareholder and regulatory approvals. 29dk2902l

Cenovus Husky Energy

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Crew Energy announces $130 Million non-core asset disposition and partial redemption of outstanding 6.500% senior unsecured notes due 2024
  • Blame policymakers, lawmakers for oil price rises, OPEC Sec Gen says
  • Omnira Software releases MOSAICâ„¢ with preliminary BC Royalty Model
  • Well of the Week selects – Moose Mountain
  • Hemisphere Energy announces record quarterly results and declares dividend

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2022 Grobes Media Inc.