Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:RE:RE:RE:RE:Response from HSE to MEG circular

[Olympic]

MEG has very limited options - no bank is coming to the rescue in these market conditions.

As someone already stated, HSE will use the SU playbook from the year before and hold firm until the end of the bid expiry term.  With no white knight HSE willl offer a small bump to the offer and MEG bod will endorse it - with the alternative being a crash in MEG share price.

I have to wonder, however, if oil producers are generally facing major disruption from the WCS, why not set up a hostile takeover scenario that creates competition amongst various takeover targets.  For example, why not make appropriate takeover offers on multiple producers with a key condition being that the first takeover target to tender 2/3 of shares is the only successful offer, and cancels the outstanding offers?  Let MEG shareholders compete to tender with their counterpart shareholders elsewhere.