- MEG Energy (OTCPK:MEGEF) rejects Husky Energy's (OTCPK:HUSKF) C$3.05B (US$2.34B) hostile takeover offer, saying it undervalues the company, and plans to seek other buyers, kicking off a bidding war for its Canadian oil sands assets.
- MEG hopes to draw out other potential buyers who may be interested in its Christina Lake project, which produces 90K bbl/day and is considered one of Canada’s top-tier oil sands operations.
- Suncor Energy (NYSE:SU), Imperial Oil (NYSEMKT:IMO) and Canadian Natural Resources (NYSE:CNQ) have been speculated as potential rival suitors.