Various media outlets are reporting that a deal has been made for Cenovus Energy to merge with Husky Energy in a nearly $24 billion deal, which includes the combined value of the companies and their debts. Both are Canadian companies, and the merger will make the combined company the 3rd largest oil and gas producer in that country.
Besides the Lima Refinery, Husky has a 50% stake in the Toledo Refinery, both operations are equipped to process the heavy Canadian crude produced by Cenovus. The deal is expected to close in the first quarter of 2021.
