Strathcona Enhances MEG Energy Proposal to Outbid Cenovus in Canada
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 08 2025
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Source: Reuters
Bidding War for MEG Energy: Strathcona Resources has raised its offer for MEG Energy to C$30.86 per share, surpassing Cenovus Energy's previous valuation of C$27.79, as the competition heats up for Canada's last large pure-play oil sands company.
Strategic Importance of MEG's Assets: MEG's Christina Lake project is highly valued for its long reserve life and low operating costs, making it a key target in the ongoing consolidation of the Canadian oil sands sector, which has seen a significant exit of foreign players over the past decade.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
