Cenovus Energy Boosts Stake in MEG Energy to 8.5% Amid Ongoing Transaction
Cenovus Energy Increases MEG Energy Stake to 8.5%
Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has recently acquired a total of 21,723,540 common shares of MEG Energy Corp. ("MEG") through the Toronto Stock Exchange and other Canadian alternative trading venues. Following this transaction, Cenovus now holds approximately 8.5% of MEG’s 254,378,035 outstanding common shares. All shares have been purchased since October 8, 2025, as part of their ongoing investment activities.
Strategic Investment and Portfolio Considerations
This acquisition aligns with Cenovus’s previously announced plans involving MEG Energy. The company intends to vote these newly acquired shares in favor of its proposed transaction with MEG, demonstrating a strong commitment to the deal. Cenovus may adjust its position in MEG, based on changing market conditions and within the boundaries of Canadian securities regulations. This decision plays a key role in managing investment risk and optimizing the company’s broader investment portfolio.
Disclosure and Regulatory Compliance
This notice has been publicly shared to comply with section 5.4 of National Instrument 62-104 regarding Take-Over Bids and Issuer Bids regulations in Canada. Cenovus remains transparent about its actions, following all financial and regulatory guidelines.
Forward-Looking Statements and Risks
The announcement includes forward-looking statements regarding Cenovus’s intentions, including voting behavior and potential future changes in MEG share ownership. These statements are identified by terms such as “intends” and “may.” Investment analysis must consider risks and uncertainties, as highlighted in Cenovus's public disclosures and periodic reports. Changes in market conditions or strategic priorities may impact Cenovus’s portfolio at risk.
About Cenovus Energy
Cenovus Energy Inc. is an integrated energy company engaged in oil and natural gas production in Canada and the Asia Pacific region, with additional activities in refining, upgrading, and marketing. The company is dedicated to responsible asset development and incorporates environmental, social, and governance (ESG) factors into its business strategies. Cenovus shares are traded on both the Toronto and New York stock exchanges, emphasizing its global market presence.
This content is for informational purposes only and does not constitute financial advice.
