'Regulatory inquiry' prompts oilsands companies to put off vote until Nov. 6

The head of Cenovus Energy Inc. says the oilsands major has secured enough shareholder support to complete its takeover of MEG Energy Corp. — and expects to close it this month — despite yet another setback that has stalled a vote on the acquisition for a stunning third time.

Chief executive Jon McKenzie said during Cenovus’s third-quarter earnings call Friday that MEG investors holding 86 per cent of the company’s shares have agreed to approve the takeover, well above the two-thirds support required to seal the deal.

McKenzie said a former MEG employee who holds about 4,000 shares had raised a complaint about the deal, leading to a “regulatory inquiry” that forced the delay of Thursday’s scheduled vote. Bu

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