Strathcona to buy 5% stake in MEG Energy after failed bid, opposes Cenovus deal

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Pumpjack Silhouette on the Great Plains in Alberta

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Strathcona Resources (OTCPK:STHRF) said late Thursday it plans to purchase an additional 5% stake in MEG Energy (OTCPK:MEGEF) after its hostile bid for the company was spurned in favor of a friendly cash-and-stock offer from Cenovus Energy (CVE).

Strathcona (

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