MEG Takeover Vote Postponed Again
A shareholder vote on the takeover offer for MEG Energy Corp. has been postponed again due to questions about a side deal between Cenovus Energy Inc. and former rival suitors.
The vote, which was initially scheduled to take place, was delayed twice before MEG's board announced a one-week postponement, marking the third delay since the $8.6-billion acquisition was announced.
The postponement was prompted by a "regulatory inquiry", which raised questions about the deal struck between Cenovus and former rival suitors for MEG Energy Corp.
A vote to approve Cenovus Energy Inc.'s $8.6-billion acquisition was delayed twice before MEG's board announced it would be postponed for another week.
- The takeover vote is now scheduled to take place on November 6.
- The deal is valued at $8.6 billion.
Author's summary: MEG takeover vote delayed again due to regulatory inquiry.
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