US EditionStrathcona Defends Unsolicited Takeover Offer for Oilsands Peer MEG Energy
- Strathcona Resources Ltd. made a cash-and-stock offer last month to acquire all MEG Energy Corp. shares it does not own, with the offer open until September 15, 2025.
- MEG’s board has recommended that shareholders turn down the bid, describing it as opportunistic and asserting that it falls short of acceptable standards by any fair evaluation.
- Strathcona responded on June 20, 2025, rejecting MEG’s justifications as erroneous and misleading, publishing a presentation titled "MEG Directors' Circular: Fact vs. Fiction" to support its position.
- The offer proposes that MEG shareholders receive 0.62 Strathcona common shares along with a cash payment of C$4.10 for each MEG share, with the goal of forming a combined entity featuring an investment grade credit rating, extensive reserve life, and anticipated cost synergies.
- Strathcona expresses its support for MEG’s initiative to explore strategic options and is eager to collaborate constructively with MEG’s board, while MEG continues to pursue its plan aimed at delivering substantial shareholder value on its own.
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Strathcona defends unsolicited takeover offer for oilsands peer MEG Energy
CALGARY — Strathcona Resources Ltd. says MEG Energy Corp. has made errors and misleading statements in its justifications for rejecting its unsolicited takeover bid. Last month, Strathcona made a cash-and-stock offer to buy all of the MEG shares it does not already own, and MEG shares have consistently been trading higher than the implied offer […]
·Toronto, Canada
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Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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NiagaraFallsReview.ca+2 Reposted by 2 other sources
MEG Energy urges shareholders to reject takeover offer by Strathcona Resources
CALGARY - MEG Energy Corp. says its board of directors is urging shareholders to reject an unsolicited takeover offer by Strathcona Resources Ltd., calling it opportunistic and not in the best interests of the company or its investors.
·Niagara Falls, Canada
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Total News Sources21
Leaning Left10Leaning Right0Center3Last UpdatedBias Distribution77% Left
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C 23%
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