MEG Shareholder Vote on Cenovus Deal Pushed to Oct. 30 as Support Trails Supermajority Bar

Overview

• The special meeting was postponed under Cenovus’s contractual right from October 22 to October 30, 2025.
• The proxy submission deadline is now October 29, 2025 at 9:00 a.m. Calgary time.
• Cenovus reported about 63% of represented shares are for the deal, or over 75% excluding Strathcona Resources, which holds roughly 14% and is assumed to oppose.
• Approval requires at least 66⅔% of shares represented and the transaction still needs customary regulatory and court clearances.
• MEG holders may elect $29.50 in cash or 1.240 Cenovus shares per MEG share, subject to pro‑ration caps of C$3.8 billion cash and 157.7 million shares, in what Cenovus calls its best and final offer with a cited 44% premium.