04:58 PM EDT, 06/27/2025 (MT Newswires) -- Strathcona Resources's ( STHRF ) largest sharolder, Waterous Energy Fund Management (WEF Manager), on, Friday said it purchased 21.4-million Strathcona subscription receipts as the company, carrying through on a commitment made when Strathcona last month launched an unsolicited takeover bid for oil-sands producer MEG Energy ( MEGEF ) .

Funds controlled by the WEF Manager paid a total $661.69-million for the receipts priced at $30.92 each. WEF Funds owned 170.53 million Strathcona shares prior to the receipt purchase, giving it a 79.6% stake in the Western Canadian oil and gas producers.

The purchase fulfills a commitment made on May 30, when Strathcona launched its bid for MEG. MEG's board earlier this month urged shareholders to reject the bid.

Strathcona shares closed down $0.16 to $30.27 on the Toronto Stock Exchange.