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Focused on development in Alberta, MEG Energy is an in-situ oil sands developer and producer currently engaged in projects in the southern Athabasca oil sands region of Alberta.
MEG Energy (TSX:MEG) has announced it intends to consider and evaluate an unsolicited offer from Husky Energy (TSX:HSE) to acquire all of the issued and outstanding common shares of MEG.
Focused on development in Alberta, MEG Energy is an in-situ oil sands developer and producer currently engaged in projects in the southern Athabasca oil sands region of Alberta.
As quoted from the press release:
The MEG board of directors will consider and evaluate the Husky offer and related take-over bid circular, if and when received. To assist the board in this process the board has formed a special committee comprised of independent directors (the “Special Committee”) and has retained financial and legal advisors.
No formal offer has been made and MEG shareholders are advised to take no action with respect to any Husky offer until the board of directors has had an opportunity to fully review the offer, when received, and to make a recommendation as to its merits. Shareholders will be notified of any recommendation of the board of directors through a news release and circular in accordance with applicable securities laws.
Legal counsel to MEG’s board and special committee is Bennett Jones LLP and BMO Capital Markets has been retained as financial advisor. Kingsdale is serving as MEG’s information agent.
