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, initially scheduled for 9 a.m., was adjourned on Thursday evening in Calgary and will be held instead on November next week.
The move ended a bizarre day that saw McFarland defer a vote.
Author's summary: MEG Energy delays shareholder vote.
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