Cenovus to acquire Athabasca Oil in a C$5.7B cash-and-stock deal
Cenovus Energy said it will acquire Athabasca Oil in a cash-and-stock transaction valued at an implied enterprise value of C$5.7 billion (about $4.0 billion). The deal signals an exit for Athabasca investors and could unlock value by integrating Athabasca's wells into Cenovus' asset base; completion will depend on regulatory approvals and customary closing conditions.
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