As part of the deal, Suncor agreed to raise its initial hostile bid from 0.25 to 0.28 of its own shares for one Canadian Oil Sands (COS) share.
This amount takes into account Canadian Oil Sands debt, which is valued at Can$2.4 billion.
MONTREAL – Canadian oil company Suncor (IW 1000/125) will buy rival Canadian Oil Sands for Can$6.6 billion (US$4.55 billion) in stocks, the two announced Monday, ending a three-month standoff.
