Hostile Bid for Canadian Oil Sands Foreshadows Tactics Under Proposed Takeover Bid Regime
|Area||Corporate Finance and Securities|
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.