MEG Energy Says It Will Consider a Strathcona Offer If and When Received

Dow Jones

05-16

By Adriano Marchese

MEG Energy said it will consider a formal offer from Strathcona Resources but said it hasn't received one yet after Strathcona announced a takeover bid.

Late Thursday, Strathcona, a Calgary, Alberta-based oil and gas producer, said that it planned to offer to buy out all MEG shares it doesn't already own in a bid to acquire the company but on Friday, MEG Energy said it hadn't yet received a formal offer.

MEG Energy said that it is ready to consider and evaluate any offer from Strathcona "if and when received."

As part of the takeover bid on Thursday, Strathcona said it would offer 0.62 of its shares and 4.10 Canadian dollars ($2.94) in cash per MEG Share.

Strathcona shares have been lightly under pressure so far in the year, falling about 1.9% to close Thursday at C$30.92. MEG Energy's stock has felt the pressure more, down 9.8% year-to-date and closing Thursday at C$21.30.

MEG Energy, a pure-play thermal oil producer in Canada with a market cap of C$5.47 billion, according to FactSet, advised its shareholders not to take any action yet until the board has had an opportunity to review an offer.

Strathcona said Thursday that if the deal went through, 56.5% would be owned by Strathcona shareholders, and about 37.8% by existing holders of MEG shares. The remaining 5.6% would be owned by Calgary-based private equity firm Waterous Energy Fund III.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 16, 2025 07:55 ET (11:55 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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MEG Energy's stock has felt the pressure more, down 9.8% year-to-date and closing Thursday at C$21.30. \n</p>\n<p>\n  MEG Energy, a pure-play thermal oil producer in Canada with a market cap of C$5.47 billion, according to FactSet, advised its shareholders not to take any action yet until the board has had an opportunity to review an offer. \n</p>\n<p>\n  Strathcona said Thursday that if the deal went through, 56.5% would be owned by Strathcona shareholders, and about 37.8% by existing holders of MEG shares. The remaining 5.6% would be owned by Calgary-based private equity firm Waterous Energy Fund III. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 16, 2025 07:55 ET (11:55 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2535918173","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2535918173","pubTimestamp":1747396500,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MEG Energy said it will consider a formal offer from Strathcona Resources but said it hasn't received one yet after Strathcona announced a takeover bid.Late Thursday, Strathcona, a Calgary, Alberta-based oil and gas producer, said that it planned to offer to buy out all MEG shares it doesn't already own in a bid to acquire the company but on Friday, MEG Energy said it hadn't yet received a formal offer.MEG Energy said that it is ready to consider and evaluate any offer from Strathcona \"if and when received.\". As part of the takeover bid on Thursday, Strathcona said it would offer 0.62 of its shares and 4.10 Canadian dollars  in cash per MEG Share.Strathcona shares have been lightly under pressure so far in the year, falling about 1.9% to close Thursday at C$30.92. MEG Energy's stock has felt the pressure more, down 9.8% year-to-date and closing Thursday at C$21.30.Strathcona said Thursday that if the deal went through, 56.5% would be owned by Strathcona shareholders, and about 37.8% by","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"MEG Energy表示，如果收到Strathcona的报价，将考虑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MEG":1},"content_text":"By Adriano Marchese \n\n\n \n\n\n  MEG Energy said it will consider a formal offer from Strathcona Resources but said it hasn't received one yet after Strathcona announced a takeover bid. \n\n\n  Late Thursday, Strathcona, a Calgary, Alberta-based oil and gas producer, said that it planned to offer to buy out all MEG shares it doesn't already own in a bid to acquire the company but on Friday, MEG Energy said it hadn't yet received a formal offer. \n\n\n  MEG Energy said that it is ready to consider and evaluate any offer from Strathcona \"if and when received.\" \n\n\n  As part of the takeover bid on Thursday, Strathcona said it would offer 0.62 of its shares and 4.10 Canadian dollars ($2.94) in cash per MEG Share. \n\n\n  Strathcona shares have been lightly under pressure so far in the year, falling about 1.9% to close Thursday at C$30.92. 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