Intel stock extends gains after report of possible U.S. government stake
Investing.com -- Cenovus Energy Inc (NYSE:CVE). is discussing a potential partnership with Indigenous groups in Canada to jointly acquire MEG Energy Corp (TSX:MEG)., which currently faces an unsolicited $4 billion takeover bid from a Canadian oil tycoon.
According to a Bloomberg report, Cenovus is in negotiations with several First Nations and Metis communities, including Chipewyan Prairie First Nation and Heart Lake First Nation. The Indigenous groups are considering taking a C$2 billion ($1.45 billion) stake in MEG Energy (OTC:MEGEF).
The proposed Indigenous investment would receive financial backing from both federal and provincial governments, while Cenovus would bid for the remaining portion of MEG Energy.
Sources familiar with the discussions indicate that a joint offer could be presented as early as September 2025, though they cautioned that negotiations might still collapse without reaching an agreement.
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