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, according to MEG Chairman James McFarland.
The investor meeting, held in Calgary, was adjourned on Thursday evening after hours of delay, with the vote rescheduled for next week.
The move ended a bizarre day that saw McFarland defer a vote that had been scheduled for 9 a.m.
Author's summary: MEG Energy Corp. delays shareholder vote.
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