Strathcona Resources Ltd. (SCR.TO), a Canadian oil and gas producer, said on Friday that it has commenced its offer to acquire shares of MEG Energy Corp. (MEG.TO) for 0.62 of share of Strathcona and $4.10 in cash per MEG share.
Strathcona also announced the execution of an equity commitment with Waterous Energy Fund, the holder of 79.6% of the Strathcona, through certain limited partnerships comprising Waterous Energy Fund III, or WEF III, pursuant to which WEF III has committed to purchase an additional 21.4 million Strathcona shares through subscription receipts.
The investment will be closed at a subscription price of $30.92 per subscription receipt, being equivalent to the price of the Strathcona shares on May 15, equating to an incremental investment by WEF in Strathcona of around $662 million.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.