RE:$10 PT at RBCThanks very much for this because it clearly states the reason why CVE shareholders voted for the deal.
The reuced exposure to the differentials and the HSE refinery capacity were critical to the deal and shareholders from both companies recognized this, hence the overwhelming approval votes.
10 bucks does sound nice and with the implied HSE price of $7.8 it turns it into a 3 bagger for those who bought at the lows. That's a good way to start the New Year.
Its not all good news though, as it says here there is too much leverage so lets hope the divestment program starts in early 2021.