Husky Energy shares rise on analyst report about potential privatization GlobeBusiness
In a report over the weekend, analyst Greg Pardy suggests that Husky’s near-15-year-low share prices make privatization attractive for the entities controlled by Hong Kong billionaire Li Ka-Shing which own 69.5 per cent of the equity.He says going private would allow Husky to capture much of the gap between its market value and base net asset value of $19.53 per share.
The report says Husky doesn’t get enough credit for assets including its Liwan natural gas field in the South China Sea, its Canadian East Coast production, its thermal heavy oil projects in Saskatchewan and its U.S. refineries. In an e-mail, Husky spokeswoman Kim Guttormson declined to address the report, noting the company doesn’t comment on speculation.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MEG Energy files complaint to NEB over Enbridge’s proposed Mainline contract changesSmaller producers are concerned large U.S. refiners will snap up most of the contracted capacity, leaving them scrambling to secure space
Read more »
Trade war’s losers could include microchips, energy, banksStocks of companies that do lots of business with China, such as chipmakers and other technology companies, are obvious candidates for investors to sell when trade worries rise
Read more »
Global shares rise as investors watch trade war, economiesGlobal shares were higher Monday, as investors continue to rejigger their read on President Donald Trump's trade war and growing worries about slowing economies around the world.
Read more »
Pipeline rupture sends 40,000 litres of crude oil into Alberta creekThe Alberta Energy Regulator says on its website that the incident happened Thursday on a Bonterra Energy Corp. line 14 kilometres south of Drayton Valley, Alta.
Read more »
Trade war’s losers could include microchips, energy, banksStocks of companies that do lots of business with China, such as chipmakers and other technology companies, are obvious candidates for investors to sell when trade worries rise
Read more »