Canada’s Cenovus Energy to buy Husky Energy for C$23.6 billion BENGALURU: Canadian oil and gas producer Cenovus Energy Inc will buy peer Husky Energy Inc in an all-stock transaction valued at C$23.6 billion (RM74.73 billion), inclusive of debt, the companies said in a joint statement today. The deal is the latest sign of consolidation in the energy industry following the collapse of oil prices. Earlier this month Concho Resources Inc agreed to being taken over by ConocoPhillips for US$9.7 billion. That followed Chevron Corp's US$4.2 billion purchase of Noble Energy. Cenovus' deal for Husky implies a transaction equity value for Husky of about C$3.8 billion and a transaction enterprise value of about C$10.2 billion, according to the statement. Husky shareholders will receive 0.7845 of a Cenovus share and 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share, according to the statement. The combined company is expected to generate annual synergies of C$1.2 billion and will operate as Cenovus Energy Inc with headquarters in Alberta, Canada, the statement said.