Newspaper article The Canadian Press

Suncor Energy Acquires Nearly 73 per Cent of Canadian Oil Sands Shares

Newspaper article The Canadian Press

Suncor Energy Acquires Nearly 73 per Cent of Canadian Oil Sands Shares

Article excerpt

Suncor gets nearly 73 per cent of COS shares

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CALGARY - Suncor Energy has announced that nearly 73 per cent of Canadian Oil Sands shares and accompanying rights have been tendered to Suncor's offer.

Suncor officials said that as a result, the company will be able to ensure that a subsequent acquisition transaction will be completed and Suncor (TSX:SU) will acquire the remainder of the outstanding COS shares.

In mid-January, COS (TSX:COS) accepted a sweetened takeover offer from Suncor Energy as the market outlook for oilsands producers deteriorates.

The deal drew to a close a bitter takeover battle that pitted two partners in the massive Syncrude oilsands mine against each other.

Suncor offered to exchange 0.28 of one of its shares for each COS share -- up from 0. …

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