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Strathcona Resources Ltd. Confirms Filing of Amended Offer for MEG Energy Corp. and Reaffirms Willingness to Enter into Supported Transaction Following Cenovus Energy Inc.'s Election Not to Match Strathcona's Superior Proposal
Strathcona Resources Ltd. Confirms Filing of Amended Offer for MEG Energy Corp. and Reaffirms Wil...
About this update from Strathcona Resources Ltd.
[{"type":"text","content":"\n\n\n\n Strathcona Resources Ltd. Confirms Filing of Amended Offer for MEG Energy Corp. and Reaffirms Willingness to Enter into Supported Transaction Following Cenovus Energy Inc.'s Election Not to Match Strathcona's Superior Proposal\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Sept. 11, 2025\n \n\n /CNW/ - Strathcona Resources Ltd. (\"\n \n\n Strathcona\n \n\n \") today announced the filing and mailing of its Notice of Variation, Change and Extension in connection with its offer (as varied, the \"\n \n Amended Offer\n \n \") to acquire all of the outstanding common shares (\"\n \n MEG Shares\n \n \") of MEG Energy Corp. (TSX: MEG) (\"\n \n MEG\n \n \") not already owned by\n \n Strathcona\n \n for 0.80\n \n Strathcona\n \n shares per MEG Share. The Notice of Variation, Change and Extension has been filed with the Canadian securities regulators on SEDAR+ under MEG's profile at\n \n www.sedarplus.ca\n \n and posted on\n \n Strathcona's\n \n website alongside the Amended Offer presentation, which MEG and\n \n Strathcona\n \n shareholders are encouraged to review.\n \n\n\n\n\n\n\n\n\n\n Strathcona Looks Forward to Engaging with the MEG Board on Supported Transaction\n \n\n\n Since the agreement (the \"\n \n MEG Board Deal\n \n \") between MEG and Cenovus Energy Inc. (\"\n \n Cenovus\n \n \") was announced on\n \n August 22, 2025\n \n ,\n \n Strathcona\n \n has been approached by and spoken to a substantial portion of the MEG shareholder base, from which feedback has been uniform: the MEG Board Deal meaningfully undervalues MEG and allows Cenovus to keep the vast majority of future upside for itself due to its cash-heavy consideration structure. This feedback led directly to the announcement of\n \n Strathcona's\n \n Amended Offer on\n \n September 8, 2025\n \n , to which feedback from MEG shareholders has been overwhelmingly positive to date.\n \n\n\n Strathcona's\n \n Amended Offer is unequivocally superior to the MEG Board Deal in price and in terms, providing MEG shareholders with a substantial upfront...