RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Just asking some SU holders...One thing to consider is Total is a European company. In Europe the environmental movement seems to be stronger and taken more seriously and appears to get more policy enacted. Certainly much more than the States at least.
It could be Total doesn't want the reputational damage of having a small stake in the 'dirty' Canadian oil sands anymore. Especially when environmentalists seem to have a particularly big hate on for Alberta bitumen. I doubt this is the hill Total wants to die on.
Total is a pretty big company and their stake in Canada is now a pretty small - less than 1% of their assets.
So both sides are motivated for different reasons. I think the deal will get done for around what the price was in April. If Suncor can pull that off and then get FH up to name plate that sort of deal could look pretty good looking back in a year or so.
Raising oil production by 8% and adding reserves without adding shares to the float and paying for the deal out of cash flow over a couple or few quarters is a power move. Off the top of my head I'm pretty sure there was enough cash flow in any four quarters of 2022 to provide the funds to swallow this deal whole. So that said I guess we'll have to wait and see if Suncor can pull it off. (lol)