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By ahnationtalk on April 16, 2021
By ahnationtalk on April 16, 2021
By ahnationtalk on April 16, 2021
By ahnationtalk on April 16, 2021
By ahnationtalk on April 16, 2021
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by ahnationtalk on October 6, 2015525 Views
October 5, 2015
Suncor has commenced an unsolicited offer for Canadian Oil Sands (TSE:COS) for $4.3 billion.
Canadian Oil Sands was up sharply, 47% to $9.15 a share. Suncor is down 1.75% to $26.95.
Before the announcement, struggling Canadian Oil Sands was down 40% for the year while Suncor declined 17% over the same period.
Suncor says the total deal will cost the company $6.6 billion if Suncor assumes Canadian Oil Sands net debt.
Canadian Oil Sands has been labouring under low oil prices. It’s estimated cost of production was US$55 a barrel in the third quarter, above the current market price of oil.
Read More: http://www.mining.com/suncor-launches-4-3-billion-bid-for-canadian-oil-sands/
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This article comes from NationTalk:
https://nationtalk.ca
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https://nationtalk.ca/story/suncor-launches-4-3-billion-bid-for-canadian-oil-sands-mining-com
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