MEG Meeting on Cenovus Deal Postponed
The MEG shareholder vote on a proposed takeover by Cenovus Energy Inc. has been delayed another week.
MEG board chair James McFarland twice paused a meeting Thursday to address a last-minute "regulatory inquiry" before adjourning it until Nov.
This is the latest development in a bitter months-long takeover fight between Cenovus and Strathcona Resources Ltd.
- Cenovus is an oilsands giant.
- Strathcona Resources Ltd. is a smaller rival bidder.
- Strathcona dropped its all-stock bid earlier this month.
- Strathcona pledged to vote its 14 per cent stake in MEG in favour of a sweetened offer from Cenovus.
No direct quotes available in the text.
Author's summary: MEG meeting postponed due to regulatory inquiry.
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