Cenovus Energy Inc. has signed a cash-and-stock deal to buy MEG Energy Corp. that values the company at $7.9 billion, including debt.

Cenovus Energy is acquiring MEG Energy for C$27.25/share, unlocking value from Christina Lake assets with 75% cash, 25% shares. Learn why CVE stock is a strong buy.

Cenovus Energy Inc. has signed a cash-and-stock deal to buy MEG Energy Corp. that values the company at $7.9 billion, including debt. The deal comes after Strathcona Resources Ltd. made an unsolicited offer for MEG in May that the company urged shareholders to reject.

After rejecting a hostile takeover from Strathcona in June, MEG announced a friendly agreement with Cenovus on Friday

Strathcona Resources (OTCPK:STHRF) will vote against Cenovus Energy's (NYSE:CVE) C$7.9B acquisition of MEG Energy (OTCPK:MEGEF), founder Adam Waterous told Bloomberg on Friday, saying the latter's board accepted an inferior offer in an attempt to circumvent his own bid.

The group Investors for Paris Compliance has accused Cenovus and Enbridge of overstating their efforts to reach net zero.

LIMA — Cenovus Lima Refinery officials say black smoke residents reported eminating from the facility’s flare stack Wednesday morning was due to an incident that is now resolved.

A complaint filed Tuesday with Alberta's securities regulator said Cenovus Energy (NYSE:CVE) and Enbridge (NYSE:ENB) are misleading investors by exaggerating or misrepresenting their net-zero commitments.