CALGARY – Cenovus Energy Inc.’s takeover of MEG Energy Corp. appears poised to win shareholder approval later this week after the oilsands giant raised what it had said was its “best and final” offer and secured the support of one-time rival Strathcona Resources Ltd.
The sweetened offer announced Monday, made up of half cash and half stock, is worth $30 a share based on Cenovus’ closing stock price on Friday. Earlier, it had offered $29.50 in cash or 1.240 of a Cenovus share, worth $29.65 as of Friday
MEG shareholders are to vote on the offer, which has the support of that company’s board, on Thursday. The meeting had been scheduled for last week, but was delayed after it appeared the approval vote might have fallen short of the required two-thirds majority.
But Strathcona, which recent

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