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. MEG Chairman James McFarland adjourned an investor meeting in Calgary after hours of delay, announcing that it will be held instead on November.
The move ended a bizarre day that saw McFarland defer a vote that had been scheduled for 9 a.m.
Author's summary: MEG Energy Corp. delays shareholder vote.
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