TORONTO, Nov 25 (Reuters) - Canadian Oil Sands COS.TO ,
which is trying to attract a white knight after a hostile bid
from Suncor Energy SU.TO , needs more time to review its
options as more than two dozen parties have expressed an
interest in the company, according to a regulatory filing.
An affidavit submitted to the Alberta Securities Commission
by the Royal Bank of Canada, which has been retained by Canadian
Oil Sands to lead a review of the company's options, said "four
highly credible parties" have already signed confidentiality
agreements.
Following Suncor's hostile C$4.3 billion ($3.23 billion)
offer last month, Canadian Oil Sands adopted an extended poison
pill to thwart the bid. Suncor is attempting to get the pill
quashed and a hearing on the matter is due to take place before
the provincial securities regulator on Thursday.
A source familiar with the matter, who spoke off the record
without authorization to discuss the matter publicly, told
Reuters that scores of shareholders in Canadian Oil Sands, who
together own a sizable stake, have submitted letters to the
Alberta Securities Commission supporting the company's request
to extend the pill deadline.
($1 = 1.3295 Canadian dollars)