Canada's Strathcona to offer 0.80 shares for every MEG share in new amended bid

Strathcona Resources

08/09/2025 09:32

Sept 8 (Reuters) - Canadian oil and gas producer Strathcona Resources SCR.TO said on Monday that it is amending its proposal to acquire all of MEG Energy's MEG.TO outstanding shares and would now offer 0.80 of its shares for every MEG share.

In May, Strathcona said it plans to launch a nearly C$6 billion  ($4.3 billion) hostile takeover bid for rival MEG Energy. Strathcona was previously offering 0.62 share and C$4.10 in cash for each MEG share.

($1 = 1.3815 Canadian dollars)

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Mrigank Dhaniwala)

 ((rishabh.jaiswal@thomsonreuters.com;))