MEG Energy Inc. has accepted a friendly cash-and-stock takeover offer from oilsands neighbour Cenovus Energy Inc. worth $7.9 billion, including debt, after spurning an earlier unsolicited bid from Strathcona Resources Ltd.

A special committee reviewed all available options to boost shareholder value after Strathcona made its takeover attempt, MEG chairman James McFarland said Friday.

"After considering the Strathcona unsolicited offer, engaging with multiple parties on proposals, and assessing th…