The Globe and Mail reports in its Wednesday edition that Strathcona Resources' $5.9-billion unsolicited takeover bid for MEG Energy could just be the opening ante in a series of higher offers for the last of Canada's large pure-play oil sands producers. The Globe's Jeffrey Jones and Emma Graney write that a successful deal would make the suitor Canada's fifth-largest oil producer at around 219,000 barrels a day. Canada's energy industry has doubled down on oil sands assets in recent years as U.S. and other foreign players retreated from the capital-intensive industry. Sentiment has improved with last year's opening of the Trans Mountain pipeline expansion to the West Coast and growing support nationally for new pipelines. Analysts suggest there could be higher offers in the cards for MEG, which has yet to give a formal response to the bid. They cite a who's who of domestic producers as possible rivals. RBC analyst Greg Pardy sees Cenovus Energy as the most logical acquisitor. However, Cenovus has large expenditures under way to add its own production and improve performance at its U.S. refineries. That could be dealt with by selling some of its international assets, such as those in the South China Sea, Mr. Pardy added.