Suncor extends Canadian Oil Sands offer for second time
CALGARY, Alberta -- Suncor Energy has extended the deadline for its hostile takeover bid for Canadian Oil Sands (COS) Ltd. for a second time.
Suncor initially extended its offer to give COS shareholders until Friday, Jan. 8, to tender their shares.
However, Suncor released a statement on Friday saying that the offer was to be extended again, a possible indicator that Suncor had failed to win enough support from the target company’s shareholders.
According to the statement, Suncor’s offer will now expire at 6:00 p.m. mountain time on Jan. 27.
