Cenovus Energy's (CVE) acquisition of MEG Energy has received final approval from the Court of King's Bench of Alberta in Canada, and the deal is expected to close on Thursday, MEG said Wednesday.

Under the deal, which values MEG at 8.6 billion Canadian dollars ($6.14 billion) based on amended agreement in October, MEG shareholders who opted for cash will receive their full payout in cash, while those who elected to receive shares will get about 96% in Cenovus stock and 4% in cash, the company said.

MEG shareholders with mixed elections will receive about 52% in cash and 48% in shares, with final allocations to be confirmed at closing, the company added.

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