Strathcona to buy Greenfire in deal worth up to $2.05bn

Strathcona Resources has agreed to acquire all outstanding shares of Greenfire Resources in a transaction valuing the company at between C$2.7bn ($1.91bn) and C$2.9bn ($2.05bn), including debt.

The transaction brings together two Canadian heavy oil and oil sands producers under a definitive arrangement agreement, with completion expected shortly after shareholder meetings scheduled for January 2027.

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Under the terms of the agreement, Greenfire shareholders may select either C$11.00 in cash or 0.25 Strathcona common shares for each Greenfire share held, with neither option subject to proration.

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