Canada’s oil producer Whitecap Resources Inc. (SPGYF) entered a merger agreement on March 10, 2025, to merge with peer Veren Inc. (VRN) in an all-stock deal valued at about C$15 billion ($10.4 billion).
Under the terms of the agreement, Veren shareholders will receive 1.05 common shares of Whitecap for each common share of Veren held, valuing Veren at about $6.84 per share, representing a 39.31% premium from the stock’s last close.