Cenovus Energy Acquisition Vote Delayed Due to Regulatory Inquiry

MEG Energy Corp. has postponed a shareholder vote on Cenovus Energy Inc.'s C$7.6 billion takeover proposal due to a regulatory inquiry related to a complaint by a former MEG employee who holds 4,000 shares. Cenovus CEO Jonathan McKenzie stated that the delay is to give MEG time to respond to the inquiry, which he believes will not impact the transaction. The acquisition is expected to close in mid-November, with 86% of MEG shares in favor of the Cenovus deal.