Strathcona to Purchase Five per Cent of MEG Energy's Shares After Failed Takeover Bid

Strathcona plans to raise stake in MEG Energy as takeover battle heats up

Strathcona Resources isn't backing down in the battle for Meg Energy, announcing a plan to raise its stake in the producer.

Strathcona Seeks to Block $5.7 Billion Cenovus Deal to Buy MEG Energy

Strathcona Resources, a previously rejected bidder for MEG Energy, intends to purchase more shares and vote against Cenovus Energy's proposed $5.7 billion acquisition of MEG Energy.

Strathcona to purchase five per cent of MEG Energy's shares after failed takeover bid

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Strathcona seeks to buy an additional 5% stake in rival MEG Energy, opposes Cenovus bid

Cenovus agreed in August to acquire MEG in a $7.9-billion cash-and-stock deal after MEG’s board rejected Strathcona’s lower takeover bid in June

Strathcona to Raise MEG Stake in Battle Against Cenovus’ $5.7B Takeover - USA Herald

Strathcona to raise MEG Stake in a daring power play that throws fresh turbulence into Cenovus Energy’s planned CA$7.9 billion ($5.7 billion) takeover of MEG Energy. The Calgary-based heavyweight announced Thursday it will boost its ownership in MEG by 5%, aiming to tip the scales in a battle for control over one of Canada’s prized oil sands producers. The Numbers Behind the Move Strathcona currently holds 23.4 million MEG shares, about 9.2% of …

Strathcona seeks to block $5.7 billion Cenovus deal to buy MEG Energy – Oil & Gas 360

(Oil Price)– Previously rejected MEG Energy bidder Strathcona Resources intends to buy an additional 5% stake in MEG and vote these shares and the existing 9.2% stake against the Cenovus acquisition offer for MEG, as the latest major Canadian deal faces hurdles towards completion. Last week, Cenovus Energy announced it has entered into a definitive arrangement agreement to acquire MEG Energy Corp in a cash and stock deal valued at US$5.7 billion