We are revising our COS target price to reflect the 0.32 share exchange ratio bid that Suncor offered to COS in April, as upon some reflection it seems clear to us that Suncor’s bid would need to be at least this high for COS shareholders to approve, and we believe that Suncor assumed as much when it went public with the current bid, which offers a 0.25 share exchange ratio.
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Higher Bid from Suncor Seems Very Likely (On Second Thought)
- Published:
21 Oct 2015 -
Author:
Michael P. Dunn -
Pages:
11
We are revising our COS target price to reflect the 0.32 share exchange ratio bid that Suncor offered to COS in April, as upon some reflection it seems clear to us that Suncor’s bid would need to be at least this high for COS shareholders to approve, and we believe that Suncor assumed as much when it went public with the current bid, which offers a 0.25 share exchange ratio.