MEG Energy's board adjourned the shareholder vote on its proposed acquisition by Cen Energy, citing a regulatory inquiry received the previous evening that requires additional disclosure before the vote can proceed.
The inquiry, which appears to be linked to the sale of the Vawn thermal heavy‑oil asset and undeveloped lands to Strathcona Resources, prompted the board to request further information from the Alberta Securities Commission and other regulators.
The vote, originally scheduled for Thursday, October 30, 2025, has been moved to Monday, November 6, 2025, giving shareholders and regulators time to review the requested information and address any concerns.
The Cen Energy offer, which was sweetened to $30.00 per MEG share on October 27, 2025, remains in place. The deal values the combined company at approximately $8.6 billion, including debt, and is expected to generate over $400 million in annual synergies by 2028.
The postponement may delay the expected closing of the transaction, which had been targeted for the end of 2025, but both parties have indicated that they remain committed to completing the deal once the inquiry is resolved.
Management from both companies has emphasized that the regulatory review is a routine part of the approval process and that the additional information requested is standard for transactions of this size.
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