Poor MEG. I feel bad for their people. They will surely be taken over by CVE now. $8.6B really?? $17.6B to get out of FCCL. Phillips paying them $1.9B for their share of the refineries. The only thing this company is consistent at is overpaying, getting ripped off and then laying off. No wonder their stock is always in the toilet. Employees should get out now!!!! Go across the street. Go anywhere. What a dumpster fire.
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@26x seems like to sn---h up some more “yes” votes!
What's up with MEG's postponement of the special meeting of shareholders vote to October 30, 2025? Is this a play to get even more money out of Cenovus?
@16n I strongly suggest you to purchase your stuff from a reliable source, Apparently those impurities gave you hallucination.
@rv Alberta’s oil and gas industry is thriving. What are you even talking about.
You again? Have you looked at the stock chart? Clearly not. Go complain elsewhere as you are still bitter from being laid off years ago.
@q5+1k721xbq4
They have several assets they can sell to help fund the MEG deal. Start with those boat anchor downstream assets that ki-l our bonuses every year! I don’t believe they overpayed for these assets when you look at the upside, and the top tier nature of the assets. Top tier assets will always attract a premium. It’s no different than companies paying up to $7000/Ha for Montney land, you get what you pay for.
It’s a dumpster fire across the street too. What else is left in Alberta’s oil & gas sector now other than dumpster fires.
This is a great deal for Cenovus! The synergies are in the operational, development expertise and innovation spaces where Cenovus is a leader. Yes there will be huge G&A savings too which is also beneficial for shareholders!
They finally reduced net debt to below $4 billion and they overplayed on the MEG assets. The synergies they’re claiming almost entirely come from G&A savings.