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On March 23, 2009, Suncor announced its intent to acquire Petro-Canada. [11] [12] This merger created a company with a combined market capitalization of C$43.3 billion. On June 4, 2009, a 98% approval rate was reached by Suncor's shareholders for the acquisition of Petro-Canada and the Competition Bureau approved the merger on June 21, 2009.
Suncor Energy completed merger with Canada's 11th largest company Petro Canada on August 1, 2009 in a 21 billion dollar deal to form the largest oil and second largest company overall in Canada. [66] [67] At the time of the merger it had a market capitalization of $43 billion and held the biggest position in Alberta's oil sands. [68]
Petro-Canada (colloquially known as Petro-Can) is a retail and wholesale marketing brand subsidiary of Suncor Energy. Until 1991, it was a federal Crown corporation (a state-owned enterprise ). In August 2009, Petro-Canada merged with Suncor Energy, with Suncor shareholders receiving approximately 60 percent ownership of the combined company ...
Suncor replaced its chief executive in July and agreed to review its retail fuel unit by the end of this year after Elliott Investment, which owns 3% of the company, pushed for changes, flagging a ...
A Bay Street money manager says Suncor Energy will have no problem finding partners to enhance Petro-Canada gas stations with more food, shopping, and green travel options.
Later it was acquired by Petro-Canada and supplied fuel in Ontario. It closed in 2005, with Petro-Canada (now Suncor Energy) getting supplies for the Ontario market from its Montreal Refinery. The facility once employed 350 people and produced some 90,000 barrels per day (14,000 m 3 /d). Petro-Canada ascribed the decision to close the facility ...
Elliott, which owns about 3% of Suncor, has urged the company to bring in new directors and undergo a management and strategic review. ... Canada's second-largest crude oil producer has been under ...
Toronto 6 327 Suncor Energy: Oil and Gas 44,928 6,975 16,558 Calgary 7 ... All 56 companies from Canada are listed. [3] Rank Forbes 2000 rank Name Headquarters