Market Chatter: Cenovus Says MEG Energy Vote Delay Due to Former Employee's Complaint

MT Newswires Live
Nov 01

Cenovus Energy (CVE) Chief Executive Officer Jonathan McKenzie said MEG Energy postponed a shareholder vote on his company's takeover bid because of a complaint by a former MEG employee, who holds about 4,000 shares, Bloomberg reported Friday.

McKenzie said he does not expect the regulatory inquiry related to the complaint to have an impact on the transaction, which is still anticipated to close in mid-November, according to the report.

MEG Energy on Thursday postponed the shareholder vote on the Cenovus deal for the third time and set another meeting for Nov. 6, Bloomberg said.

Cenovus Energy and MEG Energy did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 17.03, Change: +0.27, Percent Change: +1.64

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10