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Husky Makes $2.6B Hostile Bid For Meg Energy

by rigzone.com posted 11months ago 45 views
Husky Energy has made a $2.6 billion hostile bid for MEG Energy Corp.: (Bloomberg) -- Husky Energy Inc. made a C$3.3 billion ($2.6 billion) hostile bid for MEG Energy Corp., setting up a battle between the Canadian oil company linked to Hong Kong billionaire Li Ka-shing’s family and Chinese energy giant Cnooc Ltd., a major investor in the targeted oil-sands producer. Husky Chief Executive Officer Rob Peabody says he’s taking the cash and stock proposal directly to shareholders after MEG’s board spurned an earlier offer and that his company remains prepared to speak with directors.