Strathcona Resources acquires additional MEG Energy shares
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Strathcona Resources has acquired an additional 6.66 million shares of MEG Energy for approximately C$190.8 million, increasing its ownership to about 11.8%. Previously, Strathcona held 9.2% of MEG's shares. The company aims to raise its stake to 14.2% and plans to oppose Cenovus Energy's acquisition of MEG, which is valued at C$7.9 billion, after MEG rejected Strathcona's C$6 billion bid.
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