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Cenovus to Buy MEG Energy in $5 Billion Oil-Sands Deal

Markets

Robert Tuttle, Paula Sambo

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August 22, 2025

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Bloomberg

Cenovus Energy Inc. agreed to buy MEG Energy Corp. for C$6.93 billion ($5 billion), beating a bid from Strathcona Resources Ltd. to boost its position among Canada’s top oil producers.

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