Dec 16 (Reuters) - The following are the top stories from
selected Canadian newspapers. Reuters has not verified these
stories and does not vouch for their accuracy.
THE GLOBE AND MAIL
** Suncor Energy Inc SU.TO urged Canadian Oil Sands Ltd
COS.TO shareholders to accept a C$4.3 billion hostile takeover
as crude prices slump, saying there is little evidence that a
rival bid is in the works.
** Bank of Canada Governor Stephen Poloz insisted that the
Canadian economic recovery remains on the track outlined by the
central bank, despite the latest in a series of disappointing
growth indicators.
NATIONAL POST
** Canadian billionaire investor Seymour Schulich, who
initially called Suncor's C$4.5 billion offer for Canadian Oil
Sands "ridiculous," said he and potentially others in his group
of six major investors would be willing to support the deal if
Suncor gave them an option to buy more Suncor shares should oil
prices rise in the future.
** Faced with scrutiny over its practice of raising drug
prices, on Tuesday, Valeant Pharmaceuticals International Inc (N:VRX)
VRX.TO said it was entering a 20-year agreement with Walgreens
Boots Alliance Inc WBA.O , to reduce wholesale prices by 10
percent for all dermatological and ophthalmological products
and sell certain branded drugs at generic prices with an average
discount of more than 50 percent.
** The Bank of Canada is piling on more concerns over the
country's housing market, warning that rising household debt and
regional price imbalances could lead to an "adverse shock" to
the sector.