MEG Energy to waive rights plan in takeover fight with Husky Energy

first_imgCompanies in this story: (TSX:HSE, TSX:MEG)The Canadian Press CALGARY — MEG Energy Corp. says it will waive its shareholder rights plan in its fight against a hostile takeover offer by Husky Energy Inc.However, the company says it continues to unanimously recommend shareholders reject Husky’s cash-and-share offer .MEG noted that since Husky announced its intention to make its offer on Sept. 30, Husky’s share price has fallen more than 30 per cent, eroding the value of the offer.The takeover was worth about $3.3 billion when proposed in September but has fallen to less than $2.5 billion because of deterioration in Husky’s share price.Earlier this week, a CIBC oil and gas analyst said the recent deterioration in crude oil prices makes it unlikely that a better offer will emerge to force Husky to sweeten its hostile bid.Husky has said that it has received all necessary regulatory approvals for the takeover of MEG and is now waiting for shareholders’ response to its offer which expires in mid-January.last_img read more

The old fire hall approved for rezoning

first_img FORT ST. JOHN, B.C. – At the Public Hearing held in the Council’s Chambers, the motion was approved to amend the zoning for the old fire hall.The zoning was being changed from Institutional to General Commercial to allow the site to be developed as mixed-use commercial office space on the bottom and residential above.The city property at 9407 Avenue sold for $625,000 to 1117731 BC Ltd company.last_img

Body found in train

first_imgKolkata: The body of an elderly person was found inside a train compartment at Sealdah railway station on Monday afternoon.Till night, his identity could not be established. According to Eastern Railway (ER) spokesperson, on Monday, the Down Naihati-Sealdah local entered the platform number 1 at Sealdah railway station around 3:55 pm. During checking of the compartments, a Railway Protection Force (RPF) personnel spotted a half-naked body of an elderly person on the floor of a compartment of the local train. After taking a close look at the body, the RPF personnel suspected that the man could be dead. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaHe immediately informed the Sealdah railway station authorities. A doctor from ER’s B R Singh Hospital was called for a quick check up. While the doctor was on his way, RPF personnel removed the body from train and placed it on a bench at the platform. After examination, the doctor declared the person dead on arrival. Later, Government Railway Police (GRP) at the Sealdah railway station was informed. Sleuths took charge of the body and sent it for autopsy examination. Police sources said the elderly person could have died due to some illness as there were no injury marks on the body.last_img read more