Cenovus-MEG Deal Finally Clears Shareholder Vote

After months of twists, delays, and rival bids, MEG Energy shareholders have officially approved the long-awaited takeover by Cenovus Energy, clearing one of the final hurdles in an $8.6 billion deal that will reshape Canada’s oil sands sector. At a special meeting this week, 86% of MEG shareholders voted in favor of the acquisition—well above the two-thirds threshold required. The vote marks a decisive end to a saga that began back in the spring, when Strathcona Resources launched a hostile bid for MEG but was rebuffed by its board.…