06:51 AM EDT, 09/12/2025 (MT Newswires) -- Strathcona Resources ( STHRF ) late Thursday said it filed an amended offer to acquire all outstanding common shares of MEG Energy ( MEGEF ) it doesn't already own.

The company is now offering 0.80 Strathcona share for each MEG share.

Strathcona said MEG and Cenovus Energy ( CVE ) announced a deal on Aug. 22 that "meaningfully undervalues" MEG, according to its statement.

Strathcona reiterated that its offer reflects an 11% premium to the deal between MEG and Cenovus on the Sept. 8 announcement date and a 9% premium since the Cenovus deal was announced.

After Cenovus said its deal with MEG represents its best and final offer, Strathcona reaffirmed that it remains willing to engage constructively with the MEG board of directors to enter into a supported transaction.