MEG/SCR/CVE: Now the REAL BIDDING Starts
August 25, 2025
It just got interesting.
We previously wrote about the MEG Energy (“MEG”) / Strathcona Resources (“SCR”) hostile offer a few weeks ago, and the latest news just dropped.
Another bidder that we had anticipated has emerged . . . Cenovus (“CVE”).
A Quick Look at CVE as MEG's M&A Suitor
So we’ve been writing about SCR’s hostile takeover of MEG recently, and one of our readers responded with this:
We’ve known all along that CVE was the likely white knight as the company’s contiguous acreage around Christina Lake made the transaction imminently sensible.
We’ll walk through what we think will happen in the coming weeks as the drama unfolds, and give our take on the situation and next steps. It’s the reasons why we think a higher bid is coming, and that we’re all just getting started.
Here goes.