Cenovus Raises Offer for MEG Energy as Record Output Boosts Momentum

Cenovus Energy (TSX: CVE; NYSE: CVE) has sweetened its offer to acquire MEG Energy (TSX: MEG), increasing the deal value to approximately C$29.80 per share and adjusting the mix to an even split of cash and stock, while also reporting record third-quarter production and throughput across its operations. Under the amended agreement announced Wednesday, MEG shareholders can now choose to receive either C$29.50 in cash or 1.240 Cenovus shares per MEG share, subject to proration limits of 50% cash and 50% equ ...