Trading in MEG mixed after it rejects hostile takeover

CALGARY — MEG Energy Corp. shares rose and fell in choppy trading Thursday after it formally rejected a $3.3-billion hostile takeover offer from oilsands rival Husky Energy Inc. The target company said after markets closed Wednesday the Husky offer is opportunistic and undervalues its assets and prospects, adding it intends to conduct a formal process that could identify a white knight to make a better offer.