Oct 25 (Reuters) - Husky Energy Inc HSE.TO :
* CENOVUS AND HUSKY COMBINE TO CREATE A RESILIENT INTEGRATED ENERGY LEADER
* ANNOUNCED A TRANSACTION TO CREATE A NEW INTEGRATED CANADIAN OIL AND NATURAL GAS COMPANY
* ENTERED INTO A DEFINITIVE AGREEMENT UNDER WHICH CENOVUS AND HUSKY WILL COMBINE IN AN ALL-STOCK TRANSACTION VALUED AT $23.6 BILLION
* COMBINED COMPANY WILL OPERATE AS CENOVUS ENERGY INC. AND REMAIN HEADQUARTERED IN CALGARY, ALBERTA
* TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF CENOVUS AND HUSKY
* TRANSACTION IS EXPECTED TO CLOSE IN Q1 OF 2021
* ANTICIPATED ANNUAL RUN RATE SYNERGIES OF $1.2 BILLION FROM DEAL
* HUSKY ENERGY - HUSKY SHAREHOLDERS WILL RECEIVE 0.7845 OF A CENOVUS SHARE PLUS 0.0651 OF A CENOVUS SHARE PURCHASE WARRANT IN EXCHANGE FOR EACH SHARE
* CENOVUS SHAREHOLDERS WILL OWN APPROXIMATELY 61% OF COMBINED COMPANY, AND HUSKY SHAREHOLDERS WILL OWN APPROXIMATELY 39%