Suncor extends offer for Canadian Oil Sands
Suncor Energy Inc. is extending its offer for all the outstanding shares of Canadian Oil Sands Ltd. (COS) to Jan. 27.
“We are encouraged by the number of shares that have been tendered,” said Steve Williams, Suncor’s president and chief executive officer.
Suncor made the unsolicited offer on Oct. 5. An expiration date of Dec. 4, 2015, was extended to Jan. 8 (OGJ Online, Dec. 4, 2015).
COS said shareholders overwhelmingly rejected the offer and that Suncor has an immediate obligation to disclose the actual tender results.