Suncor Energy on extension of offer for Canadian Oil Sands
Calgary – Suncor Energy extended its offer to Canadian Oil Sands Limited (COS) shareholders to 6:00 p.m. MT (8:00 p.m. ET) on Wednesday, January 27, 2016.
Suncor Energy provided perspective on the extension of its offer: “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 for COS shareholders, including a large premium to the pre-offer price, a 45% dividend increase and the benefit of owning shares in Suncor, Canada’s leading integrated energy company. We have decided to extend the offer in order to allow shareholders to continue to tender to the offer.”