Cenovus Energy announced the acquisition of an additional 3.28 million common shares of MEG Energy Corp., bringing its total holdings to 25 million shares, or approximately 9.8% of MEG’s outstanding stock. All shares have been purchased since October 8, 2025, through the Toronto Stock Exchange and other Canadian markets.

The move supports Cenovus’s previously announced transaction with MEG, with the company stating it intends to vote its shares in favor of the deal. Cenovus noted it may adjust its holdings in MEG depending on market conditions and regulatory requirements.