Sign up to create alerts for Instruments, By doing so, you and %USER_NAME% will not be able to see See here for a complete list of exchanges and delays. Are you sure you want to block %USER_NAME%? Your ability to comment is currently suspended due to negative user reports. We apologize, but this video has failed to load. 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, according to the statement. Economic Events and content by followed authors, Cenovus Energy to buy Husky Energy in an all-stock deal valued at $23.6 billion. As of Friday’s close, the deal valued Husky at C$3.83 per share, nearly 21% above its closing price that day. In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. Cenovus Energy Inc shares fell more than 10% on Monday as analysts questioned the Canadian oil producer's C$3.8 billion ($2.9 billion) all-stock …

Photographer: Brent Lewin/Bloomberg Photographer: Brent Lewin/Bloomberg Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock … (.

Husky Energy shares were up 6.3% at C$3.37. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. “The merger also greatly dilutes the quality of the upstream asset base, which has always been a key point of differentiation,” the brokerage said in a note. Please note that all comments are pending until approved by our moderators. On Oct. 25, no-moat Cenovus Energy (CVE) announced it will combine with Husky Energy (HUSKF) in an all-stock deal. It may therefore take some time before it appears on our website. Raymond James analysts had a mixed view of the deal, questioning Cenovus’ “pivot to reduce heavy oil exposure and add refining exposure” at a time when the market is turning in the opposite direction.

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Are you sure you want to delete this chart? There was an error, please provide a valid email address. We ask you to keep your comments relevant and respectful. Your status will be reviewed by our moderators. (Reuters) - Cenovus Energy Inc CVE.TO shares fell more than 10% on Monday as analysts questioned the Canadian oil producer's C$3.8 billion ($2.9 billion) all-stock purchase of rival Husky Energy Inc HSE.TO, which expands its refining exposure in a low-demand environment. Cenovus Energy's last big deal in 2017 involved the C$17.7 billion purchase of oil sands and western Canadian natural gas assets from ConocoPhillips, , which straddled the company with massive debt. %USER_NAME% was successfully added to your Block List. (reut.rs/3ouixEX). We encountered an issue signing you up. 365 Bloor Street East, Toronto, Ontario, M4W 3L4.

Stock analysis for Cenovus Energy Inc (CVE:Toronto) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Cenovus Energy Inc will buy Husky Energy Inc in an all-stock transaction valued at $23.6 billion, the companies said in a statement on Sunday. This advertisement has not loaded yet, but your article continues below. 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, according to the statement. Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges. Thanks for your comment. Pipelines carrying steam to well heads and heavy oil back to the processing plant line the roads at the Cenovus Energy Christina Lake SAGD project south of Fort McMurray, Avoid profanity, slander or personal attacks. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The deal is the largest merger in the country’s energy sector in nearly four years, according to analysts, and comes on the heels of other major consolidation announcements in the United States. For more information, visit cenovus.com.Find … (Reuters) - Cenovus Energy (NYSE: CVE) Inc will buy Husky Energy (OTC: HUSKF) Inc in an all-stock transaction valued at $23.6 billion, the companies said in a statement on Sunday. Photographer: Brent Lewin/Bloomberg Photographer: Brent Lewin/Bloomberg Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock … All Rights Reserved, This article has already been saved in your, © Reuters. Virus Gains Momentum, Stimulus Stalls, Ant Group IPO - What's up in... Pinterest, ExxonMobil: 1 Stock To Thrive, 1 Under Pressure, Chart Of The Day: IBM Is Heading Down To $100.

(Reuters) - Cenovus Energy (NYSE:CVE) Inc will buy Husky Energy (OTC:HUSKF) Inc in an all-stock transaction valued at $23.6 billion, the companies said in a statement on Sunday. (reut.rs/34smKB6), The decision did not sit well with investors as Cenovus replaced its CEO just months after the takeover. Since you’ve just unblocked this person, you must wait 48 hours before renewing the block. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. Cenovus Energy Inc. (pronounced se-nō-vus) is an integrated oil and natural gas company headquartered in Calgary, Alberta.

© 2007-2020 Fusion Media Limited. Unauthorized distribution, transmission or republication strictly prohibited. Report. (Reporting by Ann Maria Shibu in Bengaluru Editing by Susan Fenton). Please wait a minute before you try to comment again. Cenovus Energy's last big deal in 2017 involved the C$17.7 billion purchase of oil sands and western Canadian natural gas assets from ConocoPhillips COP.N, which straddled the company with massive debt. At the close in NYSE, the... We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Cenovus Energy (NYSE:CVE) agrees to acquire Husky Energy (OTCPK:HUSKF) in an all-stock transaction, creating an integrated Canadian oil and natural … Cenovus Energy Inc will buy Husky Energy Inc in an all-stock transaction valued at $23.6 billion, the companies said in a statement on Sunday. shares fell more than 10% on Monday as analysts questioned the Canadian oil producer's C$3.8 billion ($2.9 billion) all-stock purchase of rival Husky Energy Inc. , which expands its refining exposure in a low-demand environment. Reporting by Shradha Singh in Bengaluru; Editing by Ramakrishnan M. Our Standards: The Thomson Reuters Trust Principles. Cormark Securities said the equity premium and lack of asset overlap would most likely create some short-term negative pressure on Cenovus’s stock price on Monday. A welcome email is on its way. Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. Please try again. Husky shareholders will receive 0.7845 shares of Cenovus … Credit Suisse analyst Manav Gupta said Cenovus was paying an “excessive” premium, given that it has superior assets. Comments may take up to an hour for moderation before appearing on the site. Replace the attached chart with a new chart ? If you don't see it please check your junk folder. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. This comment has already been saved in your, Dow Slumps as Record Surge in Infection Triggers Bloodbath, Wall Street tumbles as virus cases soar, stimulus hopes fade, Dow Tumbles as Virus Fears Wash Over Wall Street, Panic Selling Can Lead To Multi-Day FX Moves, 3 Stocks To Watch This Coming Week: Microsoft, Apple, Amazon, Microsoft Earnings: Demand Slowdown May Offer Buying Opportunity, Vanguard Total Bond Market II Index Fund Investor, PIMCO Commodity Real Return Strategy Institutional, SG FTSE MIB Gross TR 5x Daily Short Strategy RT 18, Vontobel 7X Long Fixed Lever on Natural Gas 8.06, Goldman Sachs attempted to cover up sexual misconduct, lawsuit claims, Tiffany-LVMH deal clears regulatory hurdles with EU nod, U.S. stocks lower at close of trade; Dow Jones Industrial Average down 2.29%, Direxion Daily Junior Gold Miners Bull 2X Shares, Drug Profits, Microsoft, Consumer Confidence: 3 Things to Watch. MarketScreener Homepage > Equities > Toronto Stock Exchange > Cenovus Energy Inc. CVE CA15135U1093. All quotes delayed a minimum of 15 minutes. Tudor Pickering Holt & Co said increasing integration is likely to cause investor consternation, as the brokerage sees greater returns potential in oil and gas production versus refining at the moment. Cenovus Energy to buy Husky Energy in an all-stock deal valued at $23.6 bln, tap here to see other videos from our team. 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, according to the statement. Cenovus was formed on December 1, 2009 when Encana Corporation split into two distinct companies, with Cenovus becoming focused on oil sands assets.. Read more about cookies here. any of each other's Investing.com's posts.

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