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In Canada, 2 Oil Giants Agree to Merge

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posted on Mar, 23 2009 @ 09:32 AM
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In Canada, 2 Oil Giants Agree to Merge


www.nytimes.com

Suncor Energy has agreed to acquire Petro-Canada in an all-stock deal worth about $15 billion, the companies announced Monday morning.

The merger will combine two of the largest operators in Canada’s oils sands which have high production costs and which have become a target of environmental groups.

Under the plan, Petro-Canada shareholders will receive 1.28 common shares of the expanded company for each share of Petro-Canada, while Suncor shareholders will receive new shares on a one-for-one basis. Petro-Canada shareholders will hold 40 percent of the enlarged company and Suncor shareholders will hold 60 percent.
(visit the link for the full news article)




posted on Mar, 23 2009 @ 09:32 AM
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Another example of globalists goals. I don't like this at all. Soon, giants in the oil industry will all merge into one big family and impose very high prices on gaz and fuel.
I know that we should have new alternatives for energy, like more solar and wind technology, so we can start cleaning up this planet of ours.


www.nytimes.com
(visit the link for the full news article)



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