CALGARY – The chairman of MEG Energy Corp. has paused a shareholder meeting on a proposed takeover by Cenovus Energy Inc.
The meeting had been set for 9 a.m. local time today, but is now to resume at 2 p.m.
Board chair James McFarland says decided to call a recess in order to address a “regulatory inquiry” that came in Wednesday night.
It’s the latest twist in a bitter months-long takeover fight that pitted oilsands giant Cenovus against smaller rival bidder Strathcona Resources Ltd.
Strathcona dropped its all-stock bid earlier this month and this week pledged it would vote its 14-per-cent stake in MEG in favour of a sweetened offer from Cenovus.
Cenovus and MEG have side-by-side oilsands properties at Christina Lake, south of Fort McMurray, Alta., while Strathcona also has steam-driven operations in the region.
This report by The Canadian Press was first published Oct. 30, 2025.
Companies in this story: (TSX:MEG) (TSX:SCR) (TSX:CVE)
