MEG Meeting on Cenovus Deal Postponed
A meeting regarding the proposed takeover of MEG by Cenovus Energy Inc. has been delayed another week.
MEG board chair James McFarland paused the meeting twice on Thursday to address a last-minute "regulatory inquiry" before adjourning it until November.
This development is the latest in a months-long takeover fight between Cenovus and Strathcona Resources Ltd. Strathcona recently dropped its all-stock bid and pledged to vote its 14% stake in MEG in favor of Cenovus' sweetened offer.
Strathcona dropped its all-stock bid earlier this month and on Monday pledged it would vote its 14% stake in MEG in favour of a sweetened offer from Cenovus.
Author's summary: MEG meeting postponed due to regulatory inquiry.
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