Integration Helps Husky Energy Battle the Wide Heavy Oil Discount
Husky Energy proposed to acquire all of the outstanding shares of MEG Energy in a deal valued at CAD 6.4 billion. Under the proposal, MEG shareholders would receive CAD 11 in cash or 0.485 of a Husky share, subject to a maximum cash payment of CAD 1 billion and a maximum of 107 million shares, and Husky would incur CAD 3.1 billion in debt.Husky made the proposal directly to MEG shareholders after MEG’s leadership declined to discuss the bid with Husky. In response, MEG’s board will consider the...
Husky Energy is engaged in the exploration, development and production of oil and natural gas. Co.'s operations are located in Canada and United States. As of Dec. 31, 2011, Co. had total proved oil and natural gas reserves of 1,172.4 million barrels of oil equivalent (Mmboe) gross (1,010.7 Mmboe net).
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