On Oct. 15, 2025, Cenovus Energy announced it had acquired an additional 3,276,460 common shares of MEG Energy Corp., increasing its beneficial ownership to 25,000,000 shares—representing 9.8 % of MEG’s 254,378,035 outstanding shares. The purchase was executed through the Toronto Stock Exchange or other Canadian alternative exchanges.
The acquisition is part of Cenovus’s previously announced transaction to acquire MEG Energy, with the company intending to vote the newly acquired shares in favor of the deal. The move brings Cenovus’s total stake to 9.8 %, up from 8.5 % after the earlier purchase of 21,723,540 shares on Oct. 8, 2025.
By increasing its stake, Cenovus strengthens its position in the Canadian oil sands sector and moves closer to full ownership of MEG Energy, which could unlock synergies and production growth. The transaction aligns with Cenovus’s strategy to consolidate assets and enhance shareholder value.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.