MEG Energy Acknowledges Strathcona's Intention to Revise Offer

MEG Energy Corp. (TSX: MEG) ("MEG", or the "Company") is responding to the news release issued on September 8, 2025 by Strathcona Resources Ltd. ("Strathcona") announcing its intention to file a variation and extension to its offer (the "Revised Strathcona Offer") to acquire MEG.

As previously announced on August 22, 2025 , MEG entered into a definitive arrangement agreement ("Arrangement Agreement") with Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) ("Cenovus") under which Cenovus will acquire all issued and outstanding MEG shares in a transaction that values MEG at $27.76 per share or $8.0 billion at Cenovus's closing share price on September 5, 2025 , inclusive of assumption of MEG's debt. The transaction is to be completed by way of a plan of arrangement under the Business Corporations Act ( Alberta ) and is expected to close early in the fourth quarter of 2025, subject to customary approvals.

The MEG Special Committee and Board of Directors will evaluate the Revised Strathcona Offer and plan to respond on or before September 15, 2025 . The MEG Board of Directors has not made any determination with respect to the Revised Strathcona Offer at this time.

BMO Capital Markets and Burnet, Duckworth & Palmer LLP are acting as financial advisor and legal counsel, respectively, to the Company. RBC Capital Markets and Norton Rose Fulbright Canada LLP are acting as financial advisor and legal counsel, respectively, to MEG's Special Committee.

For further information:

Shareholder Questions:

MEG Investor Relations, 403.767.0515, invest@megenergy.com

Sodali & Co., 1.888.999.2785 or 1.289.695.3075 for banks, brokers, and callers outside North America , assistance@investor.sodali.com

Media Questions:

MEG Media Relations, 403.775.1131, media@megenergy.com

SOURCE MEG Energy Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2025/08/c7620.html

News Provided by Canada Newswire via QuoteMedia

CVE:CC
The Conversation (0)

Cenovus Energy updates production impact of Alberta wildfires

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has safely restarted approximately 62,000 barrels of oil equivalent per day (BOEd) of production, from the 85,000 BOEd impacted in May due to wildfires. Assuming the current wildfire conditions continue, Rainbow Lake operations are expected to return to... Keep Reading...
Cenovus Energy supports communities impacted by Alberta wildfires

Cenovus Energy supports communities impacted by Alberta wildfires

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a $200,000 donation to the Canadian Red Cross 2023 Alberta Fires Appeal to help support immediate relief efforts for the people and communities impacted by the ongoing wildfire situation in the province. In addition, the company is... Keep Reading...
Cenovus Energy provides update on production impact of Alberta wildfires

Cenovus Energy provides update on production impact of Alberta wildfires

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing an update on its Conventional production operations following ongoing wildfire activity in northern Alberta. Fires in the north-central region of the province have led the Government of Alberta to declare a state of emergency and a number... Keep Reading...
Cenovus reports voting results of election of Directors

Cenovus reports voting results of election of Directors

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 26, 2023, each of the 13 nominees proposed as Directors and listed in its Management Information Circular dated March 1, 2023 were elected as Directors. The detailed results of the vote... Keep Reading...
Cenovus announces 2023 first-quarter results, dividend increase

Cenovus announces 2023 first-quarter results, dividend increase

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered upstream production in the first quarter of 779,000 barrels of oil equivalent per day (BOEd) 1 and downstream throughput of 457,900 barrels per day (bblsd). The company generated $1.4 billion in adjusted funds flow and cash used in operating... Keep Reading...
Angkor Finalizes Disposition of Oyadao North License in Ratanakiri, Cambodia

Angkor Finalizes Disposition of Oyadao North License in Ratanakiri, Cambodia

(TheNewswire) GRANDE PRAIRIE, ALBERTA TheNewswire - October 24, 2025 - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces it has finalized the sale of all mineral rights on Oyadao North license to Almighty Natural Resources ("Almighty"). Angkor negotiated a sale... Keep Reading...
CHARBONE realise sa premiere livraison d'helium dans la region du Grand Toronto et signe un contrat d'approvisionnement de trois ans avec un distributeur independant

CHARBONE realise sa premiere livraison d'helium dans la region du Grand Toronto et signe un contrat d'approvisionnement de trois ans avec un distributeur independant

(TheNewswire) Brossard, Quebec TheNewswire - le 23 octobre 2025 CORPORATION CHARBONE (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (« CHARBONE » ou la « Société »), un producteur et distributeur nord-américain spécialisé dans l'hydrogène propre Ultra Haute Pureté (« UHP ») et les gaz industriels... Keep Reading...
CHARBONE Completes Its First Helium Delivery to the Greater Toronto Area and Signs Three-Year Supply Agreement with Independent Distributor

CHARBONE Completes Its First Helium Delivery to the Greater Toronto Area and Signs Three-Year Supply Agreement with Independent Distributor

(TheNewswire) Brossard, Quebec TheNewswire - October 23, 2025 CHARBONE CORPORATION (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (" CHARBONE " or the " Company "), a North American producer and distributor specializing in clean Ultra High Purity (" UHP ") hydrogen and strategic industrial gases,... Keep Reading...
CHARBONE Announces the Reception of the Main Components at the Sorel-Tracy Site and the Launch of Civil Works

CHARBONE Announces the Reception of the Main Components at the Sorel-Tracy Site and the Launch of Civil Works

(TheNewswire) Brossard, Quebec TheNewswire - October 22, 2025 CHARBONE CORPORATION (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (" CHARBONE " or the " Company "), a North American producer and distributor specializing in clean Ultra High Purity (" UHP ") hydrogen and strategic industrial gases... Keep Reading...
CHARBONE annonce la reception des principales composantes sur le site de Sorel-Tracy et le lancement des travaux civils

CHARBONE annonce la reception des principales composantes sur le site de Sorel-Tracy et le lancement des travaux civils

(TheNewswire) Brossard, Quebec TheNewswire - le 22 octobre 2025 CORPORATION CHARBONE (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (« CHARBONE » ou la « Société »), un producteur et distributeur nord-américain spécialisé dans l'hydrogène propre à Ultra Haute Pureté (« UHP ») et les gaz... Keep Reading...
Angkor Resources Advances Drilling Plans On Block VIII Oil & Gas License, Cambodia

Angkor Resources Advances Drilling Plans On Block VIII Oil & Gas License, Cambodia

(TheNewswire) GRANDE PRAIRIE, ALBERTA - October 21, 2025 TheNewswire - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces management's intent for exploratory oil and gas drilling on Block VIII, Cambodia. Angkor's subsidiary EnerCam Resources Co. Cambodia Ltd.... Keep Reading...

Latest Press Releases

Related News