Canada’s MEG Delays Vote on $5.4 Billion Oil Takeover Yet Again

Canadian oil producer MEG Energy Corp. postponed a shareholder vote on a C$7.6 billion ($5.4 billion) takeover proposal by Cenovus Energy Inc. until next week to give it time to disclose more information on asset sales.

MEG Chairman James McFarlandadjourned an investor meeting on Thursday evening in Calgary after hours of delay, announcing that it will be held instead on Nov. 6. The move ended a bizarre day that saw McFarland defer a vote that had been scheduled for 9 a.m. Calgary time because of a regulatory matter that the company wouldn’t explain.

It’s the third time MEG has ...