Suncor Buys Petro-Canada for $15 Billion
March 24, 2009 at 09:46 AM EDT
Suncor Energy Inc. ( SU ) said it will buy rival Petro-Canada ( PCZ ) for $14.9 billion (C$18.43 billion) in a deal that will create Canadia’s largest energy company, with a refining capacity of 433,000 barrels per day. More importantly for the future of both companies, the combined portfolio boasts the largest oil-sands resource position,…
