COS urges investors to reject Suncor bid

摘要

Canadian Oil Sands (COS) urged shareholders to reject a takeover bid that Canadian integrated firm Suncor submitted earlier this month. In a public filing the COS board of directors said the takeover bid undervalues COS’ 36.74pc stake in the Syncrude joint venture, exploits industry uncertainty and Suncor’s inside knowledge of cost reductions underway at Syncrude, and is generally not in the best interests of shareholders.