[ET Net News Agency, 2 October 2018] Husky Energy Inc., which is 40.19%-owned by CK
Hutchison Holdings (00001), announced a proposal to acquire all of the outstanding shares
of MEG Energy Corp., a Canadian oil sands company, for implied total equity consideration
of C$3.3 billion.
This proposal values MEG at an implied total enterprise value of C$6.4 billion,
including the assumption of C$3.1 billion of net debt.
Under the terms of Husky's proposal, each MEG shareholder will have the option to choose
to receive consideration per MEG share of C$11 in cash, or 0.485 of a Husky share, subject
to maximum aggregate cash consideration of C$1 billion and a maximum aggregate number of
Husky shares issued of 107 million. (KL)