{"id":259386,"date":"2009-03-23T07:41:00","date_gmt":"2009-03-23T07:41:00","guid":{"rendered":"http:\/\/new.moldova.org\/2009\/03\/23\/suncor-petro-canada-in-merger-agreement-191200-eng\/"},"modified":"2009-03-23T07:41:00","modified_gmt":"2009-03-23T07:41:00","slug":"suncor-petro-canada-in-merger-agreement-191200-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/suncor-petro-canada-in-merger-agreement-191200-eng\/","title":{"rendered":"Suncor, Petro-Canada in merger agreement"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Canada&#8217;s Suncor Energy Inc. officials announced an agreement for an all-stock acquisition of Petro-Canada, which was valued at $19.18 billion Monday.<\/p>\n<p>Once given Parliamentary approval, the new entity that would operated using the  Suncor brand would have a combined market capitalization of $43.3-billion, the Globe and Mail reported.<\/p>\n<p>Under the deal, Petro-Canada shareholders would receive 1.28 shares of the merged company for every Petro-Canada share owned, while Suncor stockholders would receive a share in the new venture for each Suncor share owned.<\/p>\n<p>Petro-Canada was created as a federal Crown corporation in 1975 by Liberal Prime Minster Pierre Trudeau, but Conservative Prime Minister Brian Mulroney began the process of privatizing it in 1991, and by 2004, the government was no longer a stakeholder.<\/p>\n<p>Both companies have headquarters in Calgary, Alberta.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>Suncor, Petro-Canada in merger agreement<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-259386","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Canada&#8217;s Suncor Energy Inc. officials announced an agreement for an all-stock acquisition of Petro-Canada, which was valued at $19.18 billion Monday.<\/p>\n<p>Once given Parliamentary approval, the new entity that would operated using the  Suncor brand would have a combined market capitalization of $43.3-billion, the Globe and Mail reported.<\/p>\n<p>Under the deal, Petro-Canada shareholders would receive 1.28 shares of the merged company for every Petro-Canada share owned, while Suncor stockholders would receive a share in the new venture for each Suncor share owned.<\/p>\n<p>Petro-Canada was created as a federal Crown corporation in 1975 by Liberal Prime Minster Pierre Trudeau, but Conservative Prime Minister Brian Mulroney began the process of privatizing it in 1991, and by 2004, the government was no longer a stakeholder.<\/p>\n<p>Both companies have headquarters in Calgary, Alberta.<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/www.moldova.org\/en\/suncor-petro-canada-in-merger-agreement-191200-eng\/' data-heateor-sss-no-counts=\"1\"><div class='heateor_sss_sharing_title' style=\"font-weight:bold\" ><\/div><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" 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