Support Fort St John News

CALGARY — Suncor Energy Inc. says it has reached a deal with activist investor Elliott Investment Management LP that will see it undertake a strategic review of its downstream retail business with the goal of “unlocking shareholder value.”

The agreement will also see three new independent directors join the company’s board.

The U.S.-based investment manager had expressed frustration in April in what it called a recent decline in performance at the energy producer. 

More coming.

Companies in this story: (TSX:SU) 

The Canadian Press

Report an error

Read our guiding principles

Thanks for reading!

Energeticcity.ca is the voice of the Peace, bringing issues that matter to the forefront with independent journalism. Our job is to share the unique values of the Peace region with the rest of B.C. and make sure those in power hear us. From your kids’ lemonade stand to natural resource projects, we cover it – but we need your support. Give $10 a month to Energeticcity.ca today and be the reason we can cover the next story. 

More stories you might like

Avatar photo

The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms. Energeticcity.ca subscribes to Canadian Press articles about British Columbia news and Energy news.