Bennett JonesClient Work Bennett Jones Acts for Cenovus in $23.6-billion Combination with HuskyOctober 27, 2020 Authors Harinder S. BasraCalgary Managing Partner Colin R. PerryPartner Brent W. KrausPartner Anu NijhawanPartner Ashley M. WhitePartner Mark RasilePartner Carl CunninghamPartner Michael P. Theroux KCPartner Shawn M. MunroPartner Bennett Jones is acting for Cenovus Energy Inc. in its combination with Husky Energy Inc. to create a new integrated Canadian oil and natural gas company. 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. The combined company will operate as Cenovus Energy Inc. and remain headquartered in Calgary, Alberta. It will be the third largest Canadian oil and natural gas producer and the second largest Canadian-based refiner and upgrader. The transaction has been unanimously approved by the Boards of Directors of Cenovus and Husky and is expected to close in the first quarter of 2021. The Bennett Jones team was led by John Piasta (M&A) and included Harinder Basra, Colin Perry, Beth Riley and Brent Kraus (M&A), Beth Riley (Competition), Anu Nijhawan (Tax), Thomas McInerney and Ashley White (Energy), Mark Rasile (Banking), Carl Cunningham (Employment), Mike Theroux (Litigation) and Shawn Munro (Regulatory). For more information on the deal, Cenovus' news release is available here. Republishing Requests For permission to republish this or any other publication, contact Peter Zvanitajs at ZvanitajsP@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. AuthorsHarinder S. Basra, Calgary Managing Partner • Co-Head of Energy Practice Calgary • 403.298.4494 • basrah@bennettjones.com Colin R. Perry, Partner Calgary • 403.298.3419 • perryc@bennettjones.com Brent W. Kraus, Partner • Co-Head of Mergers & Acquisitions Practice Calgary • 403.298.3071 • krausb@bennettjones.com Anu Nijhawan, Partner • Co-Head of Tax Department Calgary • 403.298.3389 • nijhawana@bennettjones.com Ashley M. White, Partner • Co-Head of Energy Practice Calgary • 403.298.3471 • whitea@bennettjones.com Mark Rasile, Partner Toronto • 416.777.5088 • rasilem@bennettjones.com Carl Cunningham, Partner • Co-Head of Employment Services Practice Toronto • 416.777.4847 • cunninghamc@bennettjones.com Michael P. Theroux KC, Partner • Co-Head of Commercial Litigation Practice Calgary • 403.298.4438 • therouxm@bennettjones.com Shawn M. Munro, Partner Calgary • 403.298.3481 • munros@bennettjones.com |
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