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Cenovus Energy Strikes $7.9 Billion Deal To Acquire MEG, Creating Oil Sands Powerhouse
Cenovus Energy Inc. (NYSE:CVE) said Thursday it will acquire MEG Energy Corp. (OTC:MEGEF) in a cash-and-stock deal valued at $7.9 billion, including debt, creating one of the largest players in Canada’s oil sands sector.
Cenovus signs $7.9 billion cash-and-stock deal to buy MEG Energy
Cenovus Energy Inc. has signed a cash-and-stock deal to buy MEG Energy Corp. that values the company at $7.9 billion, including debt. The deal comes after Strathcona Resources Ltd. made an unsolicited offer for MEG in May that the company urged shareholders to reject.
Strathcona Resources (OTCPK:STHRF) will vote against Cenovus Energy's (NYSE:CVE) C$7.9B acquisition of MEG Energy ...
Shares of energy companies rallied after Federal Reserve Chairman Jerome Powell laid the groundwork for a potential rate cut in September during his speech from a Wyoming symposium. Oil futures rose ...
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