Husky targets MEG Energy
The Canadian oil sands space is set for a shakeup, as Husky Energy (ticker: HSE) announced a hostile takeover bid for MEG Energy (ticker: MEG) over the weekend.

Under the terms of Husky’s proposal, the company will pay each MEG shareholder either C$11 in cash or 0.485 shares of Husky, subject to a maximum cash consideration of C$1 billion. Based on MEG’s closing price of C$8.03 on Friday this transaction implies a 37% premium.

In total, Husky will pay C$3.3 billion for MEG Energy, and it will also assume MEG’s C$...

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