What are the advantages and benefits of the merger? And in everyone’s opinion has management failed to demonstrate it? And in what ways? This is the first merger I’ve experienced and so far I am on the fence about it. Not that it matters, I’m just wondering if the company as a whole will be made better for it.
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Husky management ... sharp dressed and useless.
My new Husky manager is the worst leader I’ve ever had. Sets meetings with no agenda or purpose, demands rigid timelines for projects and micromanages everything. Not a winning formula
I hope the Husky management they brought over is shown the door. I was hoping I left them behind when we got taken over. If Cenovus management has any brains they will quickly realize no Husky employee was happy with their leadership or lack there of.
@2vez+19Cp57w6 evidently has never read a Husky quarterly report if they are unsure Liwan made money. As per the balance sheet It literally kept the company a float last year.
The benefits of the merger?
Most of it is hard assets which is what the new Chinese owners of Cenovus are most interested in.
Obviously the soft assets like people are the most expendable. This type of treatment of employees is even illegal in Communist China.
The Lloyd upgrader and asphalt plant, the refineries that Husky mismanaged and burned to the ground, the pipes that feed them. The half million acres of royalty free lands from Husky lease. These are the prizes. The Liwan project ( nobody really knows if it makes money) , the offshore NFLD assets, (probably to be sold) .
They are competing with the Saudis which are now the 10th-largest shareholder in Suncor and the sixth-largest holder in Canadian Natural Resources.
Benefits:
Retention bonus
PSUs vested
The benefit is more work being done by less people (expense).
In 18 months all the Husky people will be out.