Strathcona seeks bigger MEG stake to block Cenovus $5.7 bn deal
Strathcona Resources said it will boost its MEG Energy stake to 14.2% as it pushes to block Cenovus's C$7.9 bn takeover. MEG's board earlier rejected Strathcona's lower C$6 bn offer. A shareholder vote is set for Oct. 9. If approved, Cenovus-MEG would create a top Canadian oil sands producer with output topping 720,000 bbl/d.