Strathcona Resources to Acquire MEG Energy via Take-Over Bid

Strathcona Resources Purchases Additional MEG Energy Shares

September 4, 2025

Oil & Gas

Strathcona Resources Ltd. purchased 6,035,600 common shares of MEG Energy Corp. for approximately $172.7 million, increasing its stake to roughly 14.2% of MEG's outstanding shares. The purchase is part of Strathcona's ongoing offer to acquire MEG and Strathcona intends to vote its shares against the proposed acquisition of MEG by Cenovus Energy Inc.

Cenovus Energy to Acquire MEG Energy in $7.9B Transaction; Strathcona Purchases Vawn Thermal Project from Cenovus

October 27, 2025

Energy

Cenovus Energy entered into a definitive arrangement agreement to acquire MEG Energy in a cash-and-stock deal valued at $7.9 billion (inclusive of assumed debt). Separately, Strathcona Resources agreed to purchase the Vawn thermal project and certain undeveloped thermal lands from Cenovus, with $75 million paid on closing and up to $75 million in contingent consideration.

Strathcona Resources Ltd. to Acquire Pipestone Energy Corp. in All-Share Transaction

August 1, 2023

Oil & Gas

Strathcona Resources Ltd. has entered into a definitive plan of arrangement to acquire all issued and outstanding common shares of Pipestone Energy Corp. in an all-share transaction that will combine the companies into a single public reporting issuer (AmalCo). The deal creates a larger, oil-weighted Canadian producer with complementary Montney and heavy oil assets, improving scale, reserve life and market relevance for Pipestone shareholders.

Agnico Eagle Mines Acquires TMAC Resources

January 5, 2021

Energy

Agnico Eagle Mines Limited agreed to acquire all outstanding common shares of TMAC Resources Inc. for C$2.20 per share, in a deal valuing the company at approximately C$286.6 million. The transaction, structured as a Plan of Arrangement, transfers control of TMAC’s Hope Bay gold assets to Agnico Eagle and includes the retirement of TMAC’s outstanding debt, with closing subject to customary regulatory and court approvals.

Glencore Acquires Remaining Stake in PolyMet Mining Corp.

November 7, 2023

Energy

Glencore AG (a subsidiary of Glencore plc) completed a plan of arrangement to acquire all remaining common shares of PolyMet Mining Corp., becoming the sole beneficial owner of 100% of PolyMet. The cash consideration was US$2.11 per common share; PolyMet's head office is in St. Paul, Minnesota and the deal consolidates Glencore's ownership of the NorthMet copper‑nickel project.

Montrose Environmental Group Acquires GreenPath Energy Ltd.

May 8, 2023

Environmental Services

Montrose Environmental Group (NYSE: MEG) has acquired GreenPath Energy Ltd., a Calgary-based optical gas imaging and fugitive emissions management services firm. GreenPath's leadership will join Montrose's Measurement and Analysis segment to scale technical and operational capabilities and broaden Montrose's service offering to oil and gas clients across North America; terms were not disclosed.