Cenovus Says MEG Delay Related to Complaint by Ex-Employee (1)

MEG Energy Corp. has postponed a shareholder vote on Cenovus Energy Inc.’s C$7.6 billion ($5.4 billion) takeover proposal because of a complaint by a former MEG employee who holds about 4,000 votes, according to Cenovus’ chief executive officer.

“The delay is to give time for MEG to respond to a regulatory inquiry related to MEG’s consideration of the amended terms of the transaction and related matters,” Cenovus CEO Jonathan McKenzie said on an earnings call Friday. “The inquiry is associated with a complaint raised by a former employee of MEG who holds approximately 4,000 shares. We do not expect ...