# Athabasca Oil to be Acquired by Cenovus Energy

> Cenovus Energy acquires Athabasca Oil for $12.00 per share, creating a $5.8 billion deal with 25% premium to Athabasca's net asset value.
- Title: Athabasca Oil to be Acquired by Cenovus Energy · Financialpost
- Summary: Cenovus Energy acquires Athabasca Oil for $12.00 per share, creating a $5.8 billion deal with 25% premium to Athabasca's net asset value. Cenovus Energy will…
- Keywords: athabasca oil, cenovus energy, tsx: ath, mcmurray fairway, in-situ oil, acquisition, shareholder value, thermal oil, money, business, Athabasca, Oil
- Source: Financialpost — https://financialpost.com/globe-newswire/athabasca-oil-announces-agreement-to-be-acquired-by-cenovus-energy
- Read time: 1 min
- Topics: athabasca oil, cenovus energy, tsx: ath, mcmurray fairway, in-situ oil, acquisition, shareholder value, thermal oil, money, business
## Acquisition Announcement
Athabasca Oil Corporation announced a definitive agreement to be acquired by Cenovus Energy for $12.00 per share in a cash-and-share transaction.
## Purchase Price Details
The $12.00 per share purchase price represents a 14% premium to Athabasca's 20-day volume-weighted average trading price.
## Transaction Value
The deal implies an equity value of approximately $5.8 billion for Athabasca with a 25% premium to its proved plus probable after-tax net asset value.
## Shareholder Options
Athabasca shareholders may elect to receive all cash, all Cenovus shares, or any combination of the two, subject to pro-ration under the arrangement.
## Strategic Rationale
Cenovus will accelerate development of Athabasca's thermal and Duvernay assets through its scale and in-situ expertise, creating synergies in the McMurray fairway.
## Shareholder Benefits
Shareholders gain immediate value realization with continued upside exposure to Cenovus's broader energy portfolio and accelerated growth plans.
## Closing Timeline
The acquisition is expected to close in December 2026, following the transaction's completion.
## Key takeaway

Cenovus Energy will acquire Athabasca Oil for $12.00 per share, representing a 25% premium to Athabasca's proved plus probable after-tax net asset value, closing in December 2026.