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 has since pledged to vote its 14% stake in MEG in favor of Cenovus' sweetened offer.
No comment from the companies on the regulatory inquiry.
Author's summary: MEG meeting delayed due to regulatory inquiry.