06:33 AM EDT, 09/16/2025 (MT Newswires) -- Strathcona Resources ( STHRF ) Tuesday responded to the recommendation by MEG Energy's ( MEGEF ) board to vote for the deal between MEG and Cenovus Energy ( CVE ) and to reject Strathcona's amended takeover bid announced Sept. 8.

MEG late Monday reaffirmed its recommendation to its shareholders, saying the revised Strathcona offer remains "fundamentally unattractive" for MEG shareholders as it fails to address or compensate for risks embedded in Strathcona shares.

Strathcona expressed disappointment in the MEG board's decision and encouraged MEG and Strathcona shareholders to review a newly posted presentation on Strathcona's website.

The expiration time for the amended Strathcona offer is 5 p.m. Mountain time Oct. 20. The special meeting of MEG shareholders to vote on the Cenovus deal is scheduled Oct. 9.

Strathcona intends to vote its approximately 14.2% interest in MEG against the Cenovus deal, which requires approval by roughly 66.67% of the votes cast at the special meeting. Strathcona recommended that MEG shareholders vote against the Cenovus deal.