opinion

Veteran investment manager Adam Waterous heads Strathcona Resources, which is owned by a private equity firm.

In the oil patch, the question of the day is who will be Adam Waterous’s next target?

The executive chair and guiding light at Strathcona Resources Ltd. SCR-T just won the consolation prize in the fight for MEG Energy Corp. MEG-T Mr. Waterous, an M&A expert, agreed to support rival Cenovus Energy Inc.’s CVE-T bid for MEG, ending a five-month takeover battle .

What does the consolation prize look like? Strathcona owns 14 per cent of MEG, worth $1.1-billion, after putting the company in play last May by making a hostile bid . Strathcona also holds an easy-to-sell stake in Tourmaline Oil Corp. worth $270-million, courtesy of asset sales last spring meant to fund

See Full Page