Cenovus Boosts MEG Energy Stake Ahead of Crucial Takeover Vote
Cenovus Energy has acquired a 9.8% stake in MEG Energy ahead of a shareholder vote on its sweetened takeover offer.
Cenovus Energy Inc. said it had built up a 9.8% stake in MEG Energy over the past week, days before MEG shareholders are expected to vote on a Cenovus takeover offer that could put an end to a two-month-long bidding war.
Cenovus Energy bought an additional 3,276,460 common shares of MEG Energy through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets.
Cenovus Energy Inc. said on Wednesday it had built up a 9.8% stake in MEG Energy.
Author's summary: Cenovus Energy acquires 9.8% stake in MEG Energy.