The Globe and Mail reports in its Thursday, Oct. 2, edition that Glass Lewis & Co. is supporting Cenovus Energy's $7-billion takeover of MEG Energy, favouring it over Strathcona Resources' hostile offer. The Globe's Andrew Willis writes that alongside Institutional Shareholder Services, Glass Lewis endorsed Cenovus's cash-and-share deal. MEG shareholders will vote on the takeover on Oct. 9. Glass Lewis said in a report: "We place significant weight on the certainty of value offered by Cenovus's cash-heavy structure, the absence of financing conditions and the higher probability of timely closing, as well as the reduced governance and liquidity risks as compared to Strathcona. ... We recommend that [MEG] shareholders vote for the proposed plan of arrangement with Cenovus." Glass Lewis and ISS have significant influence with index funds and other passive investors. These shareholders rely on the advisory firms' voting recommendations and sometimes determine the winners of contested takeovers. Last Friday, ISS said Cenovus's offer deserved "cautionary support" from MEG shareholders. In May, Strathcona put MEG in play by going public with an unsolicited bid for the company.