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Cenovus floated as potential competing bidder for hostile takeover target MEG Energy
- Cenovus Energy Corp. is considered a potential competing bidder for MEG Energy Corp., which declined an unsolicited offer from Strathcona Resources Ltd. and is reviewing other options.
- Dane Gregoris from Enverus's oil and gas research group noted that it makes operational sense for Cenovus to scale up.
- Cenovus shares have decreased nearly 30 percent over the past year, trading around $20 according to industry reports.
- A Cenovus bid would highlight the strategic importance of MEG's oilsands assets in the consolidation landscape of Alberta.
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Prince George Citizen+24 Reposted by 24 other sources
Cenovus floated as potential competing bidder for hostile takeover target MEG Energy
CALGARY — Oilsands giant Cenovus Energy Corp. has been cited by industry watchers as one of the potential competing bidders for MEG Energy Corp., which has spurned an unsolicited offer from Strathcona Resources Ltd.
·Prince George, Canada
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Total News Sources25
Leaning Left13Leaning Right0Center0Last UpdatedBias Distribution100% Left
Bias Distribution
- 100% of the sources lean Left
100% Left
L 100%
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