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 twice paused the meeting on Thursday to address a last-minute "regulatory inquiry" before adjourning it until November.
This development is the latest in a bitter months-long takeover fight between Cenovus and smaller rival bidder Strathcona Resources Ltd.
Strathcona dropped its all-stock bid earlier this month and has since pledged to vote its 14% stake in MEG in favour of a sweetened offer from Cenovus.
Regulatory inquiry
Author's summary: MEG meeting postponed due to regulatory inquiry.