Cenovus Energy Inc.

has postponed a shareholder vote on its friendly takeover deal for

MEG Energy Corp.

, after early indications suggested that once again the bid could fall short of the two-thirds support required for approval.

In a statement Tuesday, MEG said about 63 per cent of shareholders support Cenovus’s bid, based on votes that were submitted by proxy, or that were expected to be voted in-person at a special meeting Thursday. The support comes “despite opposition from

Strathcona Resources Ltd.

which is assumed to have voted against,” MEG said.

Cenovus is exercising its right to postpone the meeting to Oct. 30, to give shareholders additional time to submit proxies and vote on its cash-and-stock offer, MEG said.

This is the second time a vote on Cenovus’s white-knight bid for MEG has been postponed. The first vote was abruptly cancelled earlier this month on the heels of disappointing early proxy returns.

The first cancellation resulted in Cenovus sweetening its bid for MEG in exchange for the right to buy additional shares in the company.

The move to release Cenovus from the typical “standstill provisions” in a contested takeover battle was unusual, M&A experts have said — and resulted in

complaints to the Alberta Securities Commission last week.

The move was intended to boost Cenovus’s influence in the lastest proxy vote , and the oilsands major said last week that it had bought 9.8 per cent of MEG’s shares, which it had intended to vote in favour of the deal.

Some energy investors expressed surprise Tuesday that despite holding more shares, Cenovus did not appear to have sufficient support to get its board-backed deal over the line.

More to come…

mpotkins@postmedia.com