MEG Energy gains after Cenovus boosts takeover offer

Strathcona Resources

08/10/2025 16:26

** Shares of Canada-based MEG Energy MEG.TO rise 5.4% to C$29.76

** Cenovus Energy CVE.TO raises bid for MEG to C$8.6 billion ($6.17 billion), including debt

** CVE raises its bid by C$2.35 to about C$29.80 per share, and says this was its "best and final" offer

     ** Strathcona Resources' SCR.TO revised offer last month valued MEG at C$30.86 per share

** MEG postpones shareholder meeting to October 22 from October 9 to allow investors more time to review new offer

** Including session's moves, shares are up 26.14% YTD

($1 = 1.3945 Canadian dollars)

 (Reporting by Katha Kalia in Bengaluru)

 ((katha.kalia@thomsonreuters.com))