Cenovus completed the acquisition of MEG Energy for up to CAD7.85bn.

Cenovus, an integrated oil and natural gas company, completed the acquisition of MEG Energy, a Canadian oil company, for up to CAD7.85bn. “The addition of MEG assets and people will have an immediate positive impact on Cenovus. The strategic fit is exceptional, the assets are of the highest quality and the synergies we have identified will create significant value over both the short and long term,” Jon McKenzie, Cenovus President & CEO. On October 10, Strathcona Resources announces the termination of its takeover bid for MEG Energy.