M&A Heats Up In Canadian Oil Patch

Just like the U.S. shale patch, the Canadian oil and gas sector has seen a flurry of merger and acquisition (M&A) announcements since oil prices crashed, as larger firms scoop up assets to diversify their portfolios.  Consolidation in Canada’s oil industry gained momentum at the end of October with a mega merger that creates the country’s third-biggest oil producer and the fourth-largest oil firm by market capitalization. Cenovus Energy and Husky Energy agreed to combine their businesses in an all-stock deal to become a leaner,…