MEG Energy Shareholders Approve $8.6B Cenovus Acquisition Deal

MEG Energy Corp. shareholders have approved Cenovus Energy Inc.'s $8.6-billion takeover bid, with 86% voting in favor. The deal was delayed and required a two-thirds majority. The saga began with a hostile bid from Strathcona Resources Ltd. in the spring, followed by Cenovus' competing bid in August. The MEG board accepted the offer, and Strathcona dropped its pursuit and pledged to vote in favor of the deal last month.