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Canadian Oil Sands Responds to Unsolicited Offer from Suncor Energy (SU)
October 5, 2015 1:25 PM EDTCanadian Oil Sands Limited today responded to the announcement by Suncor Energy (NYSE: SU) that it is making an unsolicited offer to acquire all of the outstanding shares of Canadian Oil Sands.
The Board of Directors of Canadian Oil Sands together with... More
Suncor Energy (SU) Commences $4.3B Tender of Canadian Oil Sands
October 5, 2015 6:39 AM EDTSuncor Energy (NYSE: SU) announced that it has formally commenced an unsolicited offer to Canadian Oil Sands Limited shareholders to acquire all of the outstanding shares of COS for total consideration of approximately $4.3 billion. Under the terms of the Offer, each COS shareholder will receive consideration of 0.25 of a Suncor share per COS share. Including COS' estimated outstanding net debt of $2.3 billion as at June 30, 2015, the total transaction value is approximately $6.6 billion.
"We believe this is a financially compelling opportunity for COS shareholders," said Steve Williams, Suncor's president and chief executive officer. "By... More
