Suncor, Petro-Canada Get US Approval For Merger

Law360, New York (April 15, 2009, 12:00 AM EDT) -- U.S. competition regulators have given the green light to Suncor Energy Inc.'s proposed acquisition of Petro-Canada for approximately CA$19 billion ($15 billion) in stock — a deal that would create the largest energy company in Canada and the fifth-largest in North America.

The Federal Trade Commission blessed the transaction Tuesday. The deal still has to win approval from Canada's Competition Bureau and shareholders.

In March, the companies announced the acquisition, which will create a business with a refining capacity of 433,000 barrels of oil per day...
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