One-Page Deal Sheet
Petro-Canada, Suncor Announce Merger
Suncor Energy Inc. Petro-Canada Resources
Announced Date
January 25,2001
Transaction Type
Corporate
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Appealing to Canadian nationalism, Suncor Energy Inc. and Petro-Canada said Monday that a proposed merger between the two oil players would create the country's largest energy company and provide the oil patch with protection against potential foreign buyouts.
"I don't know if it is a marriage made in heaven. But it is a match made in Canada," said Suncor's president and CEO Rick George in announcing the all-stock deal to create a $43 billion behemoth.
"This will truly be a flagship Canadian corporation," he said at a Calgary news conference.
The proposed arrangement, announced Monday, would…
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