Husky Energy this week formalised a hostile takeover bid for Canadian compatriot MEG Energy with an unsolicited offer of C$6.4 billion ($4.99 billion), hoping to acquire new volumes and growth via the Christina Lake oil sands and other projects.
MEG said it would form a committee to review the offer once received, which would allow shareholders a 44% premium to the 10-day volume-weighted average share price from 28 September.
