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When markets were rising, many Canadians fretted about leveraged buyouts that put several of the country's largest corporations under foreign control. The markets' collapse, however, created the environment for the creation of a new, large Canadian energy firm. On Monday, Suncor Energy confirmed that it would acquire Petro-Canada, forming a company with a combined market capitalization of about 43 billion Canadian dollars. [ABSTRACT FROM PUBLISHER]

Suncor Energy has agreed to acquire Petro-Canada in an all-stock deal worth about $15 billion, the companies announced Monday morning. The merger will combine two of the largest operators in Canada's oils sands which have high production costs and which have become a target of environmental groups. [ABSTRACT FROM PUBLISHER]

Suncor Energy is in advanced talks to acquire Petro-Canada in a stock-based deal worth $15 billion, people familiar with the talks said on Sunday. If successful, the merger would combine two of the largest operators in the Canadian oils sands, which have high production costs and have become a target of environmental groups. An agreement is expected to be announced on Monday. [ABSTRACT FROM PUBLISHER]