Cenovus CEO Says He’s ‘Closing the Door’ on Higher MEG Offer
(Bloomberg) -- Cenovus Energy Inc.’s top executive said the company doesn’t plan to increase its takeover offer for oil sands producer MEG Energy Corp., despite a higher rival bid from Strathcona Resources Ltd. “We’re paying at the highest end of the range. And you know, we are in a world where we think we’ve got the only viable bid going forward,” Chief Executive Officer Jon McKenzie said in an interview. “We are closing the door” on making a higher bid, he said. Cenovus announced a cash-and-stock off ...