Strathcona Resources Ltd. Announces Intention to Purchase Additional Common Shares of MEG Energy Corp.

Written by Emily J. Thompson, Senior Investment Analyst

Source: PRnewswire

Updated: Aug 28 2025

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Source: PRnewswire

Strathcona Resources' Share Acquisition: Strathcona Resources Ltd. plans to purchase an additional 5% of MEG Energy Corp.'s outstanding shares, increasing its ownership from approximately 9.2% to about 14.2%, subject to market conditions.
Voting Against Cenovus Acquisition: Strathcona intends to vote against the resolution for MEG's acquisition by Cenovus Energy Inc. at the upcoming special meeting scheduled for October 9, 2025.
Details of the Offer: The offer includes acquiring all issued and outstanding MEG Shares not already owned by Strathcona for a combination of common shares and cash, with the current offer set to expire on September 15, 2025.
Forward-Looking Statements: The announcement contains forward-looking information regarding Strathcona's intentions and potential risks that could affect the actual outcomes of their share acquisition strategy.

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.