The Globe and Mail reports in its Thursday, Oct. 23, edition that Fidelity Investments may vote against Cenovus Energy's $8.6-billion takeover of MEG Energy, jeopardizing the deal, according to three unnamed sources. The Globe's Andrew Willis writes that a portfolio manager at Fidelity, which owns 9.5 per cent of MEG, has informed the two energy companies of plans to vote against the transaction. Fund managers are urging Cenovus to improve its offer for MEG, which is seeking a friendly buyer after Strathcona Resources made a hostile bid in May. Strathcona, holding a 14-per-cent interest, is MEG's largest shareholder and plans to vote against the Cenovus takeover. Fidelity is the second-largest shareholder, per regulatory filings. On Tuesday, Bank of Nova Scotia analyst Kevin Fisk said, "In our view, there is a risk that the transaction will not be approved." The Globe says Fidelity routinely plays a critical but discreet role in Canadian boardroom dramas. Cenovus can successfully complete the takeover with patience, say mergers and acquisitions lawyers. One strategy is to restructure the offer, reducing the required approval from two-thirds of votes to 50 per cent plus one, which would take several months.