1110 GMT - MEG Energy is finally rounding up its shareholders to vote on the proposed offer to be acquired by Cenovus Energy at C$30 a share, and it's all but a done deal. MEG says that, as of today, 86% of all MEG shares are in favor of the deal, and if the MEG shares held by Strathcona are excluded, 83% of the remaining shares are still in favor. To pass the deal, 66.67% of MEG shareholders need to vote in favor. Until recently, it wasn't certain because Strathcona Resources, a spurned bidder for MEG, said it would use its 14.2% stake to vote against. However, the latest agreement between MEG and Cenovus includes the divestiture of certain assets to Strathcona, effectively buying their support.(adriano.marchese@wsj.com)

(END) Dow Jones Newswires

October 31, 2025 07:10 ET (11:10 GMT)

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