Stocks in play: Cenovus Energy Inc.

Reached an agreement to purchase BP’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other 50% of the refinery since its combination with Husky Energy in 2021. Cenovus’s U.S. operating business will assume operatorship from bp upon closing of the transaction, which is expected before the end of 2022, dependent on the satisfaction of closing conditions. Total consideration includes $300 million U.S. in cash, subject to customary closing adjustments, plus the value of inventory. In addition, the parties have signed a multi-year product supply agreement. Cenovus Energy Inc. shares T.CVE are trading unchanged at $21.26.

Read:

• Mega Grocery Store Chains Listening to Customers’ Demands for Nutritious, Clean-Label Foods

• Innovative Food Stocks Responding to Conflict-, and Drought-Driven Food Supply Shocks

• Crypto Miners Finding Success While Shifting Towards Environmentally Sustainable Operations

• New Approaches Towards Immunotherapy Give Hope in Fight Against Solid Tumors

• As a Major Social Media Shuffle Looms, Uptake and Value of Dogecoin (DOGE) Surges