Cenovus ​Energy said ‌on Monday ​it ​would acquire ⁠Athabasca ​Oil in ​a cash-and-stock transaction ​valuing ​the Canadian ‌oil ⁠producer at an ​implied ​enterprise ⁠value of $5.7 ​billion.

Cenovus CEO Jon McKenzie says Athabasca's high-quality, long-life assets fit the company's portfolio and provide a clear opportunity to improve performance, grow production and create long-term shareholder value.

Cenovus Energy agreed to acquire Athabasca Oil in a C$5.7 billion cash-and-stock deal, adding about 45,000 barrels of daily production and expanding its Alberta oil sands operations. The companies expect the transaction to close in December 2026,

Cenovus Energy (CVE) said Monday it agreed to acquire Athabasca Oil (ATHOF) in a cash-and-stock deal valued at ~$5.7B, representing a 14% premium to Athabasca's 20-day volume-weighted average trading price.

Some see record oil production and more alternative routes for delivery once the Strait of Hormuz fully opens.

The world’s oil stockpiles are now “scarily thin”, the chief executive of Saudi Aramco said, adding that it would take up to two years to rebuild inventories depleted during the Middle East conflict.

Saudi Aramco's CEO warned it could take up to two years to rebuild global oil inventories, saying the squeeze could worsen as the U.S.-Iran war continues.

The squeeze on supplies of crude ​oil and refined fuels is set ‌to worsen, and refilling global stockpiles tapped as an emergency measure might take two ​years, Saudi Aramco Chief Executive ​Amin Nasser told the Energy Intelligence ⁠conference in London on Monday.

Schneider Electric SE said it is acquiring US-based engineering software developer PTC Inc. for an implied enterprise value of $23.7 billion.

Schneider Electric is in advanced talks to buy US engineering software provider PTC for about $20bn in a deal that would be the French industrial conglomerate’s largest acquisition, according to people with knowledge of the matter.

Schneider Electric has agreed to purchase software company PTC in a deal valuing its equity at around US$22.6 billion. The all-cash acquisition marks the French energy and tech company's latest move to expand into the software and AI market.

France's Schneider ​Electric said ‌on Monday it has ​agreed ​to buy PTC ⁠in ​an all-cash ​deal for $205 per share, valuing ​PTC's ​equity at about $22.6 ‌billion.