Husky Oil Company of Delaware
List of Deals
- 1972 $25,000,000 6 1/4% convertible subordinated debentures due 1997 unconditionally guaranteed by and convertible into common stock of Husky Oil Ltd.
The Husky Oil Company of Delaware was incorporated in Delaware in May 1950 to acquire Husky Refining Company, which had been organized in 1938.
In 1953 Husky formed Canadian Husky Oil Ltd., Canada, to acquire a 60 percent interest in Husky Oil & Refining Ltd., Canada. On April 1, 1954, Husky acquired Gate City Steel, Inc., of Omaha and its wholly owned subsidiary, Gate City Steel of Boise.
Husky merged with a subsidiary, Husky Hi-Power, in December 1960. During that same year, Husky Oil Ltd. acquired substantially all of the outstanding common stock of the Husky Oil Company.
Husky sold Gate City Steel to Bannock Steel Corporation in April 1963 and reacquired it in August 1966.
During 1968 Husky Oil Ltd. acquired all of the assets of the Frontier Refining Company of Denver, Colorado, which was an integrated oil and gas company.
On April 1, 1970, Curtis Incorporated, a Wyoming Corporation, became a subsidiary of Husky Oil Ltd. Curtis was liquidated in January 1971.
During the 1960s, net sales and operating revenues for Husky Oil Ltd. rose spectacularly from $39.1 million in 1966 to $138.6 million by 1970.