Cenovus Bets $4 Billion on Athabasca in Oil Sands Power Play
CVE stock dips as Cenovus Energy agrees to buy Athabasca Oil for C$12 per share in a C$5.7B cash-and-stock acquisition.
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Why It Matters
Cenovus Energy is buying another oil company for billions of dollars. This big bet on oil sands shows the company believes in its future, even as the stock dipped today.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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