Cenovus sweetens takeover bid for MEG Energy to $8.6-billion

Investor Outlook: Cenovus raises bid for MEG as oilsands takeover battle heats up

Cenovus raises its MEG Energy offer to $8.6B, boosting share options and delaying the vote as Strathcona weighs a possible counterbid.

Cenovus Sweetens Offer for MEG Energy to $6.2 Billion

Cenovus Energy is raising its takeover bid for MEG Energy in the best and final offer to buy the company that has seen rival bids from Cenovus and Strathcona Resources in recent months.  Cenovus announced on Wednesday a sweetened offer for MEG Energy shareholders, which values the target company at US$6.16 billion (C$8.6 billion) including debt.   The fully pro-rated consideration for MEG represents a value of approximately US$21.37 (C$29.80) pe…

Cenovus Energy sweetens offer for MEG in takeover battle

Cenovus Energy increased its takeover bid for rival MEG Energy one day before MEG investors were to vote, signalling the companies’ original deal didn’t have enough shareholder support.

Cenovus Energy raises takeover offer for MEG Energy

Cenovus Energy Inc. raised its takeover offer for MEG Energy Corp. on Wednesday in a proposal that values the company at about $8.6 billion, including assumed debt, up from its earlier offer valued at $7.9 billion.

Cenovus Sweetens Takeover Offer to $6.2 Billion for MEG Energy

Cenovus Sweetens MEG Energy Offer, Adds 50/50 Cash-Stock Mix - Cenovus Energy (NYSE:CVE)

Cenovus Energy Inc. (NYSE:CVE) on Wednesday signed an amending agreement to its previously announced August 21, 2025, arrangement agreement to acquire MEG Energy Corp. (OTC:MEGEF). Revised Acquisition Offer: Pursuant to the updated terms, MEG shareholders may elect to receive either $29.50 in cash per share or 1.240 Cenovus common shares, subject to rounding and proration limits of $3.8 billion in cash and 157.7 million Cenovus shares. On a full…