Wednesday, November 25,  3:29 pm

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With a slumping oil price putting pressure on the high-cost business of extracting oil from sand, Canada's Suncor Energy Inc. said Monday it would buy domestic rival Petro-Canada Ltd. in a C$19.2 billion ($15.5 billion), all-share agreement.

Suncor, with headquarters in Calgary, Alberta, said it would pay 1.28 of its own shares per Petro-Canada share, or about one-third more than Petro-Canada's Friday closing price of C$29.65.

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