Canadian Oil Sands recommends shareholders decline Suncor bid

Today, in a written statement, Canadian Oil Sands Ltd. (TSX: COS)(OTCQX: COSWF)  urged its shareholders to let Suncor Energy Inc.'s unsolicited “substantially undervalued bid” lapse on Jan. 8.

The company reassured its shareholders that Canadian Oil Sands was financially able to remain independent. Suncor, Canada's largest oil producer, is expected to withdraw its C$4.3 billion bid after it expires on Jan. 8.

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