A MEG Energy Corp. MEG-T shareholder vote on the proposed takeover by Cenovus Energy Inc. CVE-T has been delayed another week.
MEG board chair James McFarland twice paused the meeting Thursday to address a last-minute “regulatory inquiry” before adjourning it until Nov. 6.
It’s the latest twist in a bitter months-long takeover fight that pitted oilsands giant Cenovus against smaller rival bidder Strathcona Resources Ltd SCR-T .
Strathcona dropped its all-stock bid earlier this month and on Monday pledged it would vote its 14 per cent stake in MEG in favour of a sweetened offer from Cenovus.
Also Monday, Cenovus announced the sale of its Vawn thermal heavy oil operation in Saskatchewan and certain undeveloped land in western Saskatchewan and Alberta to Strathcona for $150-million

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