Fund management giant Fidelity Investments is threatening to vote against Cenovus Energy Inc.’s CVE-T friendly takeover of MEG Energy Corp. MEG-T , according to three sources, putting the $8.6-billion marriage at risk.

At least one portfolio manager at Boston-based Fidelity, which owns 9.5 per cent of MEG, has told the two energy companies they planned to vote against the transaction, according to sources familiar with the situation. The Globe and Mail is not naming the sources because they are not authorized to comment on the deal.

Fidelity, Cenovus and MEG declined to comment.

Fund managers have been pushing Cenovus to sweeten its offer for MEG since the companies announced their planned union in August. MEG’s board of directors went looking for a white knight buyer – a friend

See Full Page