Suncor and Canadian Oil Sands announced today that Suncor's acquisition of COS has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders this morning. Suncor, through a wholly owned subsidiary, acquired 76,752,122 COS shares (representing approximately 15.8 per cent of the outstanding [...]
Suncor announced today that its Offer for all of the common shares and accompanying rights of Canadian Oil Sands has expired and that a total of approximately 84.2 per cent of COS shares equating to approximately 408,097,416 common shares and accompanying rights have been tendered to Suncor's Offer. Since Suncor's initial take up of shares on Feb [...]
Emera Inc. to Replace Canadian Oil Sands in the S&P/TSX 60 Index Following Suncor Energy Transaction. S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices: The shareholders of Canadian Oil Sands have accepted a takeover bid from Suncor Energy. Shareholders of Canadian Oil Sands will receive 0.28 [...]
Canadian Oil Sands today announced the new membership of the COS Board of Directors and senior leadership team. Effective immediately, COS Board is now composed of the following individuals: Ernest F.H. (Harry) Roberts, Chair Maureen McCaw Mel Benson Steve Reynish Alister Cowan Effective immediately, COS senior leadership team is now composed of [...]
Suncor announced today that approximately 72.9 per cent of Canadian Oil Sands shares equating to 353,307,264 common shares and accompanying rights have been tendered to Suncor's Offer. Suncor will take up all tendered shares and those shares will be paid for in accordance with the terms of the Offer, initially made October 5, 2015 and most recently [...]
Suncor Energy and Canadian Oil Sands today announced the filing and mailing of a notice of variation and change to Suncor's offer and a notice of change to the COS directors' circular. These changes relate to the previously announced increase in the original offer to COS shareholders to 0.28 of a Suncor share for each COS share (the "Amended [...]
Suncor Energy and Canadian Oil Sands are pleased to announce that they have reached an agreement to support the offer by Suncor to purchase all of the shares of COS. Under the terms of the support agreement Suncor has agreed to amend its offer to provide for an increase in the original offer to COS shareholders to 0.28 of a Suncor share for each [...]
Suncor Energy today provided perspective on the extension of its offer for Canadian Oil Sands before it expires at 6:00 p.m. MT (8:00 p.m. ET) Wednesday, January 27. "We are encouraged by the number of shares that have been tendered," said Steve Williams, Suncor's president and chief executive officer. "We believe strongly in the value of the offer [...]
Canadian Oil acknowledges the overwhelming rejection of Suncor Energy substantially undervalued and opportunistic hostile bid. Canadian Oil Sands believes Suncor has an obligation to disclose material facts on its bid to COS shareholders, including the actual tender results and calls on Suncor to immediately meet this obligation. "Our Board has [...]
Canadian Oil Sands advises shareholders to take no action on Suncor Energy altered hostile bid, which simply extends the expiry from January 8, 2016 to January 27. "Extending the expiry of Suncor's bid does not change the fact that it is substantially undervalued and opportunistic," said Donald Lowry, Chairman of Canadian Oil Sands. "With the [...]
Today Canadian Oil Sands released a new corporate trailer: "Valuable. For the Long Term." The video showcases the numerous initiatives underway to maximize long-term shareholder value at a strong, independent Canadian Oil Sands and thanks shareholders for their overwhelming support of Canadian Oil Sands in its rejection of Suncor Energy's [...]
Canadian Oil Sands shareholder Seymour Schulich has written a letter to shareholders, that is also featured in full page advertisements in the Globe and Mail and Financial Post, urging them to reject Suncor Energy's hostile bid. In the letter, Schulich makes it clear Suncor is "offering an unacceptable price for an irreplaceable asset" and why [...]
