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MEG Energy Recommends that Shareholders Reject the Revised Strathcona Offer; Reaffirms Support for the Cenovus Transaction
MEG Energy Recommends that Shareholders Reject the Revised Strathcona Offer; Reaffirms Support fo...
About this update from Cenovus Energy Inc.
[{"type":"text","content":"\n\n\n\n MEG Energy Recommends that Shareholders Reject the Revised Strathcona Offer; Reaffirms Support for the Cenovus Transaction\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n MEG's Board of Directors unanimously recommends that MEG Shareholders vote FOR the Cenovus Transaction\n \n\n\n\n\n\n Revised Strathcona Offer exposes MEG Shareholders to inferior assets, an unproven track record, an overvalued\n \n Strathcona\n \n share price, significant overhang risk, and governance risk\n \n\n\n\n\n\n The Special Distribution described in the Revised Strathcona Offer results in a weaker balance sheet and increased financial risk for the combined company compared to the Initial Strathcona Offer\n \n\n\n\n\n\n Cenovus Transaction accelerates value realization from MEG's standalone plan, provides shareholders with substantial cash and highly liquid share consideration with lower risk and upside participation in long-term value creation potential\n \n\n\n\n All amounts in Canadian dollars unless specified.\n \n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Sept. 15, 2025\n \n\n /CNW/ - MEG Energy Corp. (TSX: MEG) (\"MEG\", or the \"Company\") announced today that its Board of Directors (the \"MEG Board\") has reaffirmed its unanimous recommendation to the holders (\"MEG Shareholders\") of MEG common shares (\"MEG Shares\") to vote\n \n FOR\n \n the Cenovus Transaction (as defined below) and recommends that MEG Shareholders\n \n REJECT\n \n the revised unsolicited Strathcona Resources Ltd. (\"Strathcona\") offer (the ...