China Offshore Oil (0883. HK) said Tuesday that it had noticed that HSE. TO was planning a merger with MEG Energy (MEG. TO), and that as a shareholder of MEG, the company would not comment on the matter.
Heskey, a unit of Changhe (0001.HK), a wealthy Hong Kong businessman controlled by Li Ka-shing, issued an "unsolicited proposal" on Monday to Canadian peer MEG, valued at C$6.4 billion ($5 billion) and offered cash at C$11 a share, a 44% premium to the average of the last 10 trading days up to Friday.
According to a source close to Heskey to Reuters, MEG's board of directors is not in favor of the proposed acquisition, and does not mean that MEG shareholders, including CNOOC, do not agree.
CNOOC bought 16.69% of MEG in 2005 at 150 million Canadian dollars. According to the 2017 annual report, CNOOC holds about 12.39% of MEG shares.
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