CALGARY, ALBERTA (CBS-3) – Husky Energy announced on Sunday they will be purchased by Canadian rival Cenovus Energy Incorporated.
Husky is the owner of the oil refinery in Superior.
According to a press release, the companies have entered into a definitive arrangement agreement under which Cenovus and Husky will combine in an all-stock transaction valued at $23.6 billion, inclusive of debt.
Cenovus Energy Inc. is an integrated oil and natural gas company headquartered in Calgary, Alberta.
The transaction has been unanimously approved by the Boards of Directors of Cenovus and Husky.
The deal is expected to close in the first quarter of 2021.
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