We expect the gap between COS's share price and the 0.25 bid ratio to close slightly on Monday morning (the share price ratio was 0.225x as of the close Friday), as Suncor's extension of the bid likely implies that the majority of shares have tendered, and that Suncor believes that getting the required two-thirds of COS shares tendered is within reach.
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SUNCOR EXTENDS OFFER TO JANUARY 27TH
- Published:
10 Jan 2016 -
Author:
Michael P. Dunn -
Pages:
3
We expect the gap between COS's share price and the 0.25 bid ratio to close slightly on Monday morning (the share price ratio was 0.225x as of the close Friday), as Suncor's extension of the bid likely implies that the majority of shares have tendered, and that Suncor believes that getting the required two-thirds of COS shares tendered is within reach.