MEG Energy Enhances Cenovus Deal Terms, Sets New Shareholder Meeting Date

MEG Energy ( (TSE:MEG) ) has shared an announcement.

MEG Energy Corp. has announced an amended agreement with Cenovus Energy Inc., enhancing the terms of their previously agreed transaction. The amended deal increases the consideration for MEG shareholders to $29.79 per share, reflecting a more favorable exchange based on Cenovus’s recent share price. The shareholder meeting has been rescheduled to October 22, 2025, to provide additional time for shareholders to vote on the improved transaction, which is expected to close by October 27, 2025. This development signifies a strategic move for MEG, potentially strengthening its market position and offering better value to its stakeholders.

The most recent analyst rating on (TSE:MEG) stock is a Hold with a C$28.00 price target. To see the full list of analyst forecasts on MEG Energy stock, see the TSE:MEG Stock Forecast page.

Spark’s Take on TSE:MEG Stock

According to Spark, TipRanks’ AI Analyst, TSE:MEG is a Outperform.

MEG Energy’s strong earnings call performance and technical indicators are the primary drivers of its score. The company has demonstrated resilience and strategic growth despite external challenges. Financial performance is solid, though revenue and cash flow growth need attention. Valuation metrics are favorable, supporting the stock’s attractiveness.

To see Spark’s full report on TSE:MEG stock, click here.

More about MEG Energy

MEG Energy Corp. is a Canadian energy company involved in the oil and gas industry, primarily focusing on the production of thermal oil. The company is known for its operations in the oil sands region of Alberta, Canada, and is committed to sustainable and efficient energy production.

Average Trading Volume: 1,344,304

Technical Sentiment Signal: Buy

Current Market Cap: C$7.63B

Find detailed analytics on MEG stock on TipRanks’ Stock Analysis page.