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 dropped its all-stock bid earlier this month and pledged to vote its 14% stake in MEG in favor of a sweetened offer from Cenovus.
Strathcona dropped its all-stock bid earlier this month and on Monday pledged it would vote its 14 per cent stake in MEG in favour of a sweetened offer from Cenovus.
Author's summary: MEG meeting postponed due to regulatory inquiry.