MEG Energy Seeks Alternatives After Rejecting $4.4-Billion Bid From Strathcona ...Middle East

Canada’s Strathcona Resources supports MEG Energy in its process to explore potential mergers after MEG recommended that shareholders reject a $4.4 billion (C$6 billion) takeover offer from Strathcona. Last month, Strathcona, MEG’s second-largest shareholder with about 9%, made an offer to acquire MEG Energy for the equivalent of some $4.4 billion in cash and stock. A deal would have turned the combined company into the fourth-largest oil producer among companies using team-assisted gravity drainage recovery technology in the oil sands.…

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