CVE - Husky Energy Offers To Buy MEG Energy - Jolts Canadian Heavy Oil Names Higher
Welcome to the jolt edition of Oil Markets Daily!
Over the weekend, Canadian energy stocks received 3 positive news items:
- NAFTA negotiations finished with the new trilateral agreement titled USMCA.
- Husky (HUSKF) offering to buy MEG Energy (MEGEF) (MEG.TO) for C$11 a share or C$3.3 billion (+ C$3 billion in debt).
- LNG exports will be finally coming to Canada following Shell and its four partners approval over the weekend.
But the big news for our portfolio was the news that Husky offered to buyout MEG at C$11 a share. MEG was