06:15 AM EDT, 10/14/2025 (MT Newswires) -- Cenovus Energy ( CVE ) announced Tuesday that it has acquired an aggregate of 21,723,540 common shares of MEG Energy ( MEGEF ) through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets.

Immediately following the acquisition of the common shares, Cenovus beneficially owned, directly or indirectly, and exercised control or direction over an aggregate of MEG common shares representing 8.5% of the 254,378,035 MEG common shares issued and outstanding, all of which have been acquired by Cenovus since Oct. 8, 2025, a statement noted.

CVE said the MEG common shares were acquired by Cenovus in furtherance of its previously announced transaction with MEG.

This comes after Strathcona Resources ( STHRF ) , after trade Friday, said it is ending its takeover bid for MEG because it believed the "conditions to its offer, or any reasonably improved offer, are no longer capable of being satisfied" as a result of the revised arrangement agreement between the MEG board of directors and Cenovus.