MEG Delays Vote on $5.4B Oil Takeover Yet Again
Canadian oil producer MEG Energy Corp. postponed a shareholder vote on a C$7.6 billion ($5.4 billion) takeover proposal by Cenovus Energy Inc.
The vote was delayed to give the company time to disclose more information on asset sales.
MEG Chairman James McFarland announced the decision after hours of delay during an investor meeting in Calgary, rescheduling it for next week.
The move ended a bizarre day that saw McFarland defer a vote that had been scheduled for 9 a.m.
The new meeting will be held on November.
Author summary: MEG Energy delays vote on takeover proposal.
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