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Hostile Bid for Canadian Oil Sands Foreshadows Tactics Under Proposed Takeover Bid Regime

October-27-2015

Area Corporate Finance and Securities

Summary

In the spring of 2015, Canadian Oil Sands Limited (COS) was approached by Suncor Energy Inc. (“Suncor”) with an expression of interest in a transaction. COS rejected Suncor’s initial advance. In early October of 2015, Suncor announced that it was making an unsolicited takeover bid for all of COS’s common shares.

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