Cenovus Energy (TSE:CVE) has released an update.
Cenovus Energy Inc. is set to update and restate its Shareholder Rights Plan Agreement, pending shareholder approval at their annual meeting on May 1, 2024. This move represents a continuation and amendment of previous agreements dating back to 2009, aimed at ensuring fair treatment of all shareholders in the event of a takeover bid. The agreement outlines conditions under which shareholders can purchase additional securities, signifying the company’s proactive stance in managing corporate control.
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