Cenovus Energy (TSE:CVE) has released an update.
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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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