In Energy Source:
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Breaking news this morning: Suncor Energy has announced it is buying Petro-Canada for about C$20bn. The two companies are describing the deal as a merger, but it is really a takeover. The interesting question now is whether, now the ice has been broken, other companies move to do oil sands deals. Read more
Energy news from elsewhere:
- Suncor is close to buying oil rival Petro-Canada for $15bn (WSJ)
- Crude oil rises as dollar’s decline increases commodity demand (Bloomberg)
- OZ Minerals shares on halt pending China bid update (Reuters)