Government & Regulatory | General News | Deals - Acquisition, Mergers, Divestitures
After Failed Offer, Husky Eyes Hostile Takeover of MEG Energy
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After receiving a rejection from MEG Energy for its $3.3B buyout offer in October, Husky Energy seems to be moving to launch a hostile takeover of the company.
Husky announced that it has met all regulatory requirements, including approval granted under the Investment Canada Act.
Husky CEO Rob Peabody commented: “Receiving regulatory approvals is a significant step toward realizing this compelling opportunity. Our proposal offers an enhanced shareholder return proposition with much lower risk. Together, Husky and MEG will create a stronger, more resilient Canadian energy company.”
The original proposal valued MEG at an implied total enterprise value of approximately $6.4 billion, including the assumption of approximately $3.1 billion of net debt.
MEG Asset Map
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