Newspaper article The Canadian Press

Canadian Oil Sands Tells Shareholders to Reject Suncor Bid as Deadline Looms

Newspaper article The Canadian Press

Canadian Oil Sands Tells Shareholders to Reject Suncor Bid as Deadline Looms

Article excerpt

COS again tells shareholders to reject Suncor

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CALGARY - Canadian Oil Sands is again urging its shareholders to reject a takeover bid by Suncor Energy, which has set Jan. 8 as the deadline for investors.

The company (TSX:COS) sent a letter to its shareholders Tuesday in the latest back-and-forth between the two Calgary-based firms, saying it can weather prolonged low oil prices on its own and thrive once crude recovers.

The missive, a response to Suncor's renewed appeal earlier this month to accept the deal, says it's not the right time to sell Canadian Oil Sands given the low price of crude and oil stocks.

Suncor has argued that with oil prices expected to remain low for some time, the status quo is risky for COS shareholders. …

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