Latest news with #JulianKlymochko
CTV News
25-07-2025
- Business
- CTV News
‘A bit of a bidding war': Cenovus Energy said to be working on bid for MEG Energy
Julian Klymocko CEO & Chief Investment Officer at Accelerate, joins BNN Bloomberg to discuss the outlook on the mining and energy markets. Julian Klymocko CEO & Chief Investment Officer at Accelerate, joins BNN Bloomberg to discuss the outlook on the mining and energy markets. Cenovus Energy is said to be preparing a competitive bid for MEG Energy Corporation setting the stage to potentially challenge a lucrative offer from Strathcona Resources, according to a report in the Financial Post. MEG Energy, valued at $6.8 billion on the TSX, has established a Monday deadline for interested parties to submit bids. Cenovus is believed to be seeking financing to support its offer though there is no guarantee it will proceed. 'There could be a bit of a bidding war here, but ultimately I think the stronger party here could win,' Julian Klymochko, Accelerate CEO & Chief Investment Officer told BNNBloomberg in a Thursday interview. MEG Energy urged shareholders to reject an offer from Strathcona on June 16 after the company previously announced a $6 billion cash-and-stock takeover offer for MEG in May. MEG said its board of directors have determined that Strathcona's 'unsolicited bid to acquire all of the issued and outstanding MEG shares is inadequate, opportunistic, and not in the best interests of MEG or its shareholders'. The offer remains open until Sept. 15. 'MEG Energy Board of Directors officially opposed the hostile takeover,' said Klymochko. 'In addition, they launched a strategic review of alternatives, which means they put up the for-sale sign. That looks like that's all coming to a head.' Klymochko said Cenovus can emerge as a 'white knight,' representing a friendlier bid to Strathcona's 'hostile takeover.' He referenced a time when Husky Energy made a bid to acquire MEG Energy for $6.4 billion but that bid did not go through. Husky was then acquired by Cenovus for $23.6 billion two years later. 'The main potential white knight here, and in M&A parlance, that means a friendly bidder to top the hostile offer here would be Cenovus, which totally makes sense, because if we rewind back to 2018, Husky Energy, back when it was independent, made a hostile takeover bid for MEG Energy, which ultimately failed, but then Husky was acquired by Cenovus, and there's a lot of synergies there because the assets really line up,' said Klymochko. He said the last time a company had a hostile takeover was when Suncor bought Canadian Oil Sands in 2016 for $6.6 billion. The acquisition increased Suncor's ownership stake in Syncrude, a major oilsands project, and involved a combination of cash and Suncor shares for COS shareholders. The deal was initially proposed in October 2015. 'That transaction started out hostile, and then ultimately, there's no other bidders for that asset, so the acquirer just bumped the price and got a friendly deal in hand,' said Klymochko. 'That could happen here, but if you're Strathcona, you're going up against a much larger, much more financially competitive interloper in Cenovus.' reached out to Cenvous and MEG Energy for comment on Friday but has not yet received a response.
CNBC
22-07-2025
- Business
- CNBC
Accelerate CEO: SPAC boom is back but much more speculative
Julian Klymochko, Accelerate CEO, joins 'Power Lunch' to discuss the renewed trend of companies going public via blank check companies, or SPACs.
Cision Canada
28-04-2025
- Business
- Cision Canada
Accelerate to Launch CAD-Hedged Series of its Flagship Private Credit ETF
CALGARY, AB, April 28, 2025 /CNW/ - Accelerate Financial Technologies Inc. ("Accelerate"), a leader in alternative investment solutions, is pleased to announce that it is launching a Canadian dollar-hedged series of its flagship private credit ETF, the Accelerate Diversified Credit Income Fund (TSX: INCM, INCM.U). This new CAD-hedged series is designed to offer Canadian investors diversified exposure to the primarily U.S. dollar-denominated private credit market while mitigating currency risk. "Since the inception of the Accelerate Diversified Credit Income Fund, we have witnessed significant growth driven by investors' appetite for high yield and income diversification," said Julian Klymochko, CEO and Chief Investment Officer of Accelerate. "With the launch of the CAD-hedged series, we are further expanding the Fund's reach, providing investors with an effective tool to navigate today's evolving credit market landscape while hedging currency exposure." "The private credit market has seen remarkable growth recently as institutional allocators, investment advisors, and retail investors seek alternatives to traditional fixed income amid lower yields and heightened volatility," Klymochko added, "Private credit has emerged as a key component of modern portfolios, offering a high monthly income solution without the interest rate risk associated with traditional fixed income investments." Accelerate's disciplined investment selection and risk management approach underpins the Diversified Credit Income Fund's success. The Fund targets exposure to a diversified portfolio of senior secured, floating rate loans across a broad-based selection of industries and sponsors, offering investors robust income potential with an emphasis on yield and capital preservation. "Expanding our private credit platform underscores our commitment to innovation and delivering institutional-caliber alternative investment solutions to the Canadian market," said Klymochko. "Allocators are increasingly looking to private credit as a portfolio diversifier and yield enhancer. With the CAD-hedged series, we empower investors with greater flexibility to construct resilient income portfolios." The Accelerate Diversified Credit Income Fund's CAD-hedged series is expected to be listed on the Toronto Stock Exchange on May 6 th or later, under the ticker symbol "INCM.B". About Accelerate Financial Technologies Inc. Accelerate Financial Technologies Inc. ("Accelerate") is a leading provider of alternative investment solutions. Accelerate helps investment advisors, institutions, and individual investors diversify their investment portfolios, manage risk, and improve their portfolio's risk-adjusted returns.
