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. Analysts suggest there could be higher offers in the cards for MEG, which has yet to give a formal response to the bid. RBC analyst Greg Pardy floated Imperial Oil as a possible white knight as MEG's assets would complement its own steam-assisted gravity draining oil sands operations. Imperial, however, has significant spending on tap for projects in the Cold Lake area, he noted. Imperial, the Canadian affiliate of Exxon, has often been suggested as an acquirer of companies, but has rarely made large acquisitions. Imperial executives have made it clear the company has a high bar for deals, saying in April deals need to bring "competitive advantages."