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Regulator says COS shareholders have until Jan. 4 to consider Suncor bid

Published 2015-11-30, 05:03 p/m
Regulator says COS shareholders have until Jan. 4 to consider Suncor bid
COS
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SU
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CALGARY, Alberta, Nov 30 (Reuters) - Canadian Oil Sands
COS.TO shareholders should have until Jan. 4, 2016 to consider
a hostile takeover bid from Suncor Energy Inc SU.TO , the
Alberta Securities Commission said on Monday.
The commission struck down a new shareholder rights plan
adopted by Canadian Oil Sands in October that required any
permitted bids to be open for 120 days, but said shareholders
should have more time to consider the offer.
Suncor's C$4.3 billion bid for Canadian Oil Sands, made in
October with a 60-day limit, is due to expire on Friday.

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