4 d. ago MEG takeover saga draws to close as Cenovus completes purchase

CALGARY — Oilsands giant Cenovus Energy Inc. has completed its takeover of MEG Energy Corp. The two companies had neighbouring properties in the oilsands at Christina Lake, south of Fort McMurray, Alta. With the purchase, Cenovus gets another 110,000 barrels a day of production from what had been MEG’s flagship operation. “The addition of MEG […]

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9 d. ago Toronto transit station to transform into free roller skating rink this winter

Free roller skating at Union Station couldn't come at a better time, could it? With winter weather closing in, Toronto's Union Station is preparing to host Union Winter Roller Express, an indoor roller-skating rink open to the public starting Nov. 26.Union Winter, returning to the city after a 2024 debut, offers free admission and roller skate rentals for all guests — just bring your own helmets and knee pads if you choose.The event transforms the railway station from its everyday commuter atmosphere into a festive destination decked out in decor like lighting and tinsel throughout the holiday season.You don't need to be a roller skating expert to attend, either.Union Winter Roller Express will offer skating lessons for beginners, helping new skaters ease into the fun. But that's not all.  Union Winter's itinerary includes special DJ skate nights and 19+ Winter Mixers, catering to an older crowd seeking festive f...

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2 w. ago Cenovus Energy reports $1.29B Q3 profit, up from $820M a year ago

CALGARY — Cenovus Energy Inc. reported a third-quarter profit of $1.29 billion, up from $820 million a year ago, as it saw record production. The company says its profit amounted to 72 cents per diluted share for the quarter ended Sept. 30, up from 42 cents per diluted share a year earlier. Revenue was $13.20 […]

Economics

2 w. ago MEG meeting on Cenovus deal paused to address ‘regulatory inquiry’

CALGARY — The chairman of MEG Energy Corp. has paused a shareholder meeting on a proposed takeover by Cenovus Energy Inc. to address an unspecified regulatory matter. The meeting had been set for 9 a.m. local time Thursday, but is now to resume at 2 p.m. “My role as chair is a little bit more […]

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3 w. ago Cenovus Energy raises MEG Energy offer, wins support from Strathcona Resources

Strathcona Resources, which recently dropped its own hostile all-stock offer for MEG Energy, now says it intends to vote its 14.2 per cent stake in favour of the new Cenovus bid.

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3 w. ago Cenovus strikes side deal with Strathcona to secure support for MEG takeover

Former rival suitor and MEG's largest shareholder announces it will now support Cenovus at Thursday's vote

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3 w. ago Cenovus Energy raises MEG Energy offer, wins Strathcona support

CALGARY — Cenovus Energy Inc. has raised its takeover offer for MEG Energy Corp. again, winning the support of Strathcona Resources Ltd., which had opposed the deal. Under the sweetened bid, Cenovus is offering $30 in cash or 1.255 Cenovus shares for each MEG share with limits of $3.8 billion in cash and 159.6 million […]

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3 w. ago Varcoe: ‘The ending could be unusual’ – MEG’s future unclear as investors ponder Cenovus Energy’s $8.5B takeover bid

It seems unlikely MEG Energy will remain a stand-alone company, but experts say it’s not an impossibility

Economics

3 w. ago Cenovus delays MEG Energy shareholder vote of takeover offer

CALGARY — Cenovus Energy Inc. says a vote by MEG Energy Corp. shareholders on its proposed takeover offer is being postponed after it appeared approval might fall short of the required two-thirds majority. The company said Tuesday at the time of the postponement that about 63 per cent of the MEG shares represented by proxy […]

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3 w. ago Cenovus delays shareholder vote on MEG takeover offer on signs bid could fall short of necessary support

This is the second time a vote on Cenovus's white-knight bid for MEG has been postponed

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