Cenovus Energy agrees to buy Athabasca Oil for CAD 12 per share

Cenovus Energy has agreed to acquire Athabasca Oil in a cash-and-stock transaction valued at CAD 12.00 per share, implying an equity value of approximately CAD 5.8 billion. The deal offers a 14% premium to the 20-day VWAP and is expected to close in December 2026. Consideration will be split 65% cash and 35% Cenovus shares, with shareholders able to elect their preferred mix subject to proration.

Cenovus Energy agreed to buy Athabasca Oil in a cash-and-stock deal valued at CAD 12.00 per share. * Implied equity value about CAD 5.8 billion; enterprise value CAD 5.7 billion; closing expected in December 2026. * Consideration mix set at 65% cash, 35% Cenovus shares; shareholders can elect cash, shares, or a mix, subject to proration. * Offer represents a 14% premium to the 20-day volume-weighted average price; exchange ratio set at 0.264 Cenovus share per Athabasca share. * Deal metrics cited at CAD 127,000 per boe/d, 10.2x debt-adjusted funds flow; premium of 25% to proved-plus-probable after-tax NAV. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Athabasca Oil Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610050600PRIMZONEFULLFEED9839286) on October 05, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)

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