Canada’s Strathcona raises MEG Energy takeover bid

Canada-based oil and gas producer Strathcona Resources has sweetened its takeover offer for oil sands producer MEG Energy. The revised bid follows Strathcona's recent acquisition of approximately 6.66 million MEG shares for $190.8m. New terms set by Strathcona offer 0.80 of a common share for each MEG share. This revised offer values MEG at C$30.86 per share. Strathcona said that the revised offer represents an 11% premium over the current value of an agreement between MEG and Cenovus Energy, announced ...