View Original Article

MEG Energy: Not ruling out a white knight after Husky bid – NBC

October 10, 2018 6:01 AM
Reuters

** National Bank of Canada says it does not rule out the possibility of a second bidder emerging for MEG Energy given cost-saving opportunities with other integrated producers

** Husky Energy made an unsolicited bid to buy rival MEG in a deal valued at C$6.4 bln on Sept. 30

** However, with a short list of potential buyers, the potential for a white knight to emerge is low – NBC

** Brokerage lowers MEG's stock to 'sector perform' from 'outperform' due to shares trading above HSE's bid price against NBC's PT of C$12

** Husky offer has boosted MEG's stock price by ~38 pct, more than doubling its value on a YTD basis

(Reporting by John Benny)
Sign up for the BOE Report Daily Digest E-mail Return to Home