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Cenovus Energy is acquiring Athabasca Oil in a C$5.7 billion deal, marking another significant consolidation in Canada's oil sands region. This move by major Canadian producers aims to secure contiguous, long-life oil assets as global energy supply becomes a key focus.
Cenovus Energy has agreed to acquire Athabasca Oil in a deal valued at $5.7 billion, including debt. Under the terms of the agreement, Cenovus will pay $12.00 per share for Athabasca. The acquisition is expected to close in December and is seen as a strategic fit for Cenovus's core oil sands business, adding approximat