CALGARY, Jan. 17, 2019 /CNW/ – MEG Energy Corp. (TSX:MEG, “MEG” or the “Company”) acknowledges Husky Energy’s (“Husky”) press release, stating that the takeover offer for MEG did not meet Husky’s minimum tender conditions, due to insufficient shareholder support.
“MEG Shareholders’ rejection of the Husky offer confirms that the bid did not fully recognize the quality and long-term potential of MEG.” said Derek Evans, President and Chief Executive Officer. “During this process we had the opportunity to meaningfully engage with a significant number of our shareholders. We appreciate their ongoing support and feedback on the strengths of, and opportunities for the company. MEG will be providing an update on its 2019 business plan in the near-future. We remain focused on executing our strategic vision to unlock value from our world class resource on behalf of our shareholders.”
About MEG Energy
MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize SAGD extraction methods. MEG’s common shares are listed on the Toronto Stock Exchange under the symbol “MEG.”