MEG Energy to Shareholders: Reject Latest Strathcona Offer, Accept Cenovus

September 16, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--MEG Energy's (Calgary, Alberta) board of directors recommended Monday that its shareholders reject Strathcona Resources Limited's (Calgary) latest bid for the company and stick with Cenovus Energy's (Calgary) offer for the Canadian oil sands producer. "The revised Strathcona offer remains fundamentally unattractive for MEG shareholders because it fails to address or adequately compensate for the significant risks embedded in Strathcona shares," MEG Board Chairman James McFarland said in a press release. "MEG shareholders would be exposed to inferior assets, an unproven track record, an overvalued Strathcona share price, significant overhang risk, and governance risk."