India, May 30 -- Strathcona Resources Ltd. (SCR.TO), a Canadian oil and gas producer, said on Friday that it has commenced its offer to acquire shares of MEG Energy Corp. (MEG.TO) for 0.62 of share of Strathcona and $4.10 in cash per MEG share.
Strathcona also announced the execution of an equity commitment with Waterous Energy Fund, the holder of 79.6% of the Strathcona, through certain limited partnerships comprising Waterous Energy Fund III, or WEF III, pursuant to which WEF III has committed to purchase an additional 21.4 million Strathcona shares through subscription receipts.
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The investment will be closed at a subscription price of $30.92 per subsc...