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Suncor's attempt to dismantle Canadian Oil Sands takeover defence heads to ASC

2015-11-06 14:51:34| Oil & Gas - Topix.net

The battle between Suncor Energy Inc. and Canadian Oil Sands heads to the Alberta Securities Commission on Nov. 26. Suncor has asked the provincial regulator to dismantle one of the anti-takeover measures adopted by COS directors, so Canadian Oil Sands shareholders can decide for themselves whether to accept a deal announced on Oct. 5. Canadian Oil Sands says its board is actually attempting to defend its shareholders from a bidder with an unfair advantage because of it has access to private information about the Syncrude oil sands operations north of Fort McMurray, Alta. COS has a 37 per cent stake in Syncrude and Suncor has 12 per cent, so together they own just under half of the complex.

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