The MEG Energy Corp. logo is seen in an undated handout. THE CANADIAN PRESS/HO, MEG Energy *MANDATORY CREDIT*
MEG Energy Corp. says a second major independent proxy advisory firm has recommended its shareholders back a takeover offer for the company by Cenovus Energy Inc.
The company says Glass, Lewis & Co. has issued a report recommending shareholders vote for the cash-and-stock offer by Cenovus over a rival all-stock offer by Strathcona Resources Ltd.
The report comes after proxy advisory firm Institutional Shareholder Services Inc. said last week that MEG shareholders should support the Cenovus bid.
The Cenovus offer must be approved by a two-thirds majority vote by MEG shareholders, expected to be held on Oct. 9.
Strathcona has said it intends to vote its 14.2 per cent interest in MEG against the deal.
Cenovus and MEG have side-by-side oilsands properties at Christina Lake, south of Fort McMurray, Alta., while Strathcona also has operations in the region.
This report by The Canadian Press was first published Oct. 1, 2025.
Companies in this story: (TSX:MEG, TSX:CVE, TSX:SCR)
The Canadian Press
- 0103 OSY 2025 hockey draft0103 OSY 2025 hockey draft
- 0102 Lori Carr Coal Extended0102 Lori Carr Coal Extended
- 0093 Estevan OTS 20250093 Estevan OTS 2025
- 0103 OSY 2025 hockey draft0103 OSY 2025 hockey draft
- 0101 VP Energy Road to adventure0101 VP Energy Road to adventure
- 0100 Turnbull Project Manager0100 Turnbull Project Manager
- 0099 Mryglod Steel 1080p0099 Mryglod Steel 1080p
- 0097 Eagle Sky Ventures LTD0097 Eagle Sky Ventures LTD
- 0095 Fast Trucking nearly 70 years good at it0095 Fast Trucking nearly 70 years good at it
- 0053 Kingston Midstream Westspur Alameda Click Before You Dig0053 Kingston Midstream Westspur Alameda Click Before You Dig
- 0092 Turnbull projects big and small0092 Turnbull projects big and small
- 0046 City of Estevan This is Estevan Teaser0046 City of Estevan This is Estevan Teaser
- 0087 Lori Carr Coal Expansion0087 Lori Carr Coal Expansion
- 0077 Caprice Resources Stand Up For Free Speech0077 Caprice Resources Stand Up For Free Speech
- 0076 Latus only0076 Latus only
- 0061 SIMSA 2024 For Sask Buy Sask0061 SIMSA 2024 For Sask Buy Sask
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0002 gilliss casing services0002 gilliss casing services
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 9001