MEG Delays Vote on $5.4B Oil Takeover Yet Again
Canadian oil producer MEG Energy Corp. postponed a shareholder vote on a C$7.6 billion ($5.4 billion) takeover proposal by Cenovus Energy Inc.
The vote was delayed to give the company time to disclose more information on asset sales. MEG Chairman James McFarland adjourned an investor meeting on Thursday evening in Calgary after hours of delay.
The meeting will be held instead on November 7, ending a bizarre day that saw McFarland defer a vote that had been scheduled for 9 a.m.
MEG Energy Corp. will disclose more information on asset sales before the vote.
Author's summary: MEG Energy delays vote on takeover proposal.
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