Canadian oil producer Strathcona to initiate takeover bid for MEG Energy

Strathcona Resources

16/05/2025 05:10

May 15 (Reuters) - Canadian oil and gas producer Strathcona SCR.TO said on Friday that it will initiate a takeover bid for MEG Energy Resources MEG.TO in a deal that values the Canadian energy firm at C$5.93 billion ($4.25 billion), according to Reuters calculations.

($1 = 1.3944 Canadian dollars)

 (Reporting by Ananya Palyekar in Bengaluru; Editing by Nivedita Bhattacharjee)

 ((Ananya.Palyekar@thomsonreuters.com;))