US EditionMEG Energy Delays Decision on Cenovus Takeover
MEG Energy paused its shareholder meeting to address a regulatory inquiry from the Alberta Securities Commission amid a months-long takeover battle involving Cenovus and Strathcona.
- On Oct. 30, 2025, MEG Energy Corp. chairman James McFarland paused a shareholder meeting on a Cenovus takeover, saying the session will resume at 2 p.m. to address a regulatory inquiry.
- The takeover fight began when Strathcona Resources Ltd. made a cash-and-stock bid to MEG Energy Corp. in April, which MEG's board later called 'opportunistic' and rejected before accepting Cenovus Energy Inc.'s friendly offer in August.
- Shareholder alignments shifted when Cenovus Energy Inc. offered $29.50 or 1.240 shares, then increased to a $30 half-cash, half-stock bid, with Strathcona pledging its 14-per-cent stake for Cenovus.
- Regulatory scrutiny increased after shareholder complaints as some MEG shareholders wrote to the Alberta Securities Commission asking it to investigate, while James McFarland did not clarify the inquiry's nature.
- This development matters because the pause is the latest twist in a months-long fight over oilsands assets at Christina Lake, where Cenovus, MEG, and Strathcona all operate.
18 Articles
18 Articles
MEG Energy Delays Decision on Cenovus Takeover
MEG Energy has delayed a shareholder vote on the proposed takeover of the company by sector player Cenovus, after a regulatory inquiry prompted the target company to provide additional information. Media quoting the chairman of MEG Energy’s board reported that the decision to postpone the vote was made with the knowledge of Cenovus and that the information requested by regulators concerned a transaction between Cenovus and its rival in the biddi…
Canada’s MEG Delays Vote on $5.4 Billion Oil Takeover Yet Again
Canadian oil producer MEG Energy Corp. postponed a shareholder vote on a C$7.6 billion ($5.4 billion) takeover proposal by Cenovus Energy Inc. until next week to give it time to disclose more information on asset sales.
MEG meeting on Cenovus deal paused to address 'regulatory inquiry' (Business)
The chairman of MEG Energy Corp. has paused a shareholder meeting on a proposed takeover by Cenovus Energy Inc. The meeting had been set for 9 a.m. local time today, but is now to resume at 2 p.m. Board chair James McFarland says decided to call a recess in order to address a "regulatory inquir...
Coverage Details
Bias Distribution
- 72% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
