Cenovus Energy continues its acquisition of MEG Energy common shares.
Read more: Cenovus Energy to acquire MEG Energy
Cenovus announced on Oct. 15 that it acquired an addition 3,276,460 common shares of MEG. With this recent acquisition, they own, directly or indirectly and exercise control or direction over, an aggregate of 25-million MEG common shares. This represents 9.8 per cent of MEG common shares.
Cenovus Energy plans to vote any acquired shares in favour of the transaction.
An amended agreement was announced by Cenovus on Oct. 8 which increased their bid by $1.32 per share.
MEG shareholders will get a chance to vote on the amended agreement. The meeting to vote is scheduled for Oct. 22.
Read more: MEG Energy rejects newest Strathcona offer
