October 10, 2018 / 11:48 AM / 2 months ago

BUZZ-MEG Energy: Not ruling out a white knight after Husky bid - NBC

** National Bank of Canada says it does not rule out the possibility of a second bidder emerging for MEG Energy given cost-saving opportunities with other integrated producers

** Husky Energy made an unsolicited bid to buy rival MEG in a deal valued at C$6.4 bln on Sept. 30

** However, with a short list of potential buyers, the potential for a white knight to emerge is low - NBC

** Brokerage lowers MEG’s stock to ‘sector perform’ from ‘outperform’ due to shares trading above HSE’s bid price against NBC’s PT of C$12

** Husky offer has boosted MEG’s stock price by ~38 pct, more than doubling its value on a YTD basis (Reporting by John Benny)

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