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Toronto Stocks Advance on U.S. Rate Cut Possibilities, Cenovus Energy Up on MEG Energy Deal
Shares of Cenovus Energy rose by 4.1% to C$22.03 after it said it agreed to a C$7.9 billion deal to buy MEG Energy in a move that sets the stage for a larger pure-play producer focused on the Canadian oil patch. MEG Energy shares rose 0.2% to C$27.60.
The Canadian Press on MSN10h
Strathcona blasts MEG Energy's 'weak board' as company chooses $7.9B Cenovus deal
MEG Energy Inc. has accepted a friendly cash-and-stock takeover offer from oilsands neighbour Cenovus Energy Inc. worth $7.9 ...
Cenovus Energy is acquiring MEG Energy for C$27.25/share, unlocking value from Christina Lake assets with 75% cash, 25% ...
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