Strathcona Resources to Acquire Greenfire Resources in C$2.9 Billion Deal
Strathcona Resources has entered into a definitive agreement to acquire Canadian oil sands producer Greenfire Resources in a transaction valued at up to C$2.9 billion (US$2.1 billion). The deal will be structured using a combination of cash and stock. Following the announcement, Greenfire Resources shares experienced a significant pre-market surge of 37.1%. This acquisition is expected to consolidate assets within the Canadian oil sands sector, strengthening Strathcona's market position.
Tickers: $STHRF
Topics: M&A Oil and Gas Stock Surge