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Strathcona Formally Launches Takeover Bid for Oilsands Peer MEG Energy
- On May 30, 2025, Strathcona Resources Ltd. officially initiated a takeover offer targeting MEG Energy, another oilsands company.
- The offer, open until September 15, comprises 0.62 of a Strathcona share plus $4.10 cash per MEG share not already owned, while MEG’s board will review it.
- Strathcona aims to combine complementary assets with MEG, recently sold its Alberta shale gas operations for $2.84 billion, and acquired a crude-by-rail terminal.
- Waterous, Strathcona’s executive chairman, stated the fund owns almost 80% of Strathcona and made a $662 million equity investment to show confidence in future growth.
- After the bid announcement, Strathcona’s stock climbed by more than two percent on the TSX, whereas MEG’s shares dropped close to two percent but stayed above the offer price amid hopes of competing bids.
13 Articles
13 Articles
Strathcona formally launches takeover bid for oilsands peer MEG Energy – Oil & Gas 360
(BOE Report) – CALGARY – Strathcona Resources Ltd. has begun its formal takeover bid for fellow oilsands producer MEG Energy. Its offer comprises 0.62 of a common share of Strathcona and $4.10 in cash for each MEG share it doesn’t already own. The offer is open until Sept. MEG says its board and legal and financial advisers will consider the offer, and that a special committee of independent directors will assist. The target company is urging sha
Strathcona Resources Ltd. Commences Offer to Acquire MEG Energy Corp.
CALGARY, AB, May 30, 2025 /PRNewswire/ - Strathcona Resources Ltd. ("Strathcona") announced today that it has formally commenced its offer (the "Offer") to acquire all of the issued and outstanding common shares of MEG Energy Corp. (TSX: MEG) ("MEG") not already owned by Strathcona or its affiliates for 0.62 of a common share of Strathcona ("Strathcona Share")
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