
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Cenovus bought Husky for $2.9 billion. The move was made to defend the former from the Biden Anti-Soil Sands movement which could be a threat to its future business in the US market. By acquiring Husky's refineries in Ohio and Wisconsin, Cenovus can now refine 70% of its crude directly in the US midwest and won't have to sell oil locally at a depressed price hence justifying the merge.