When you’ve been around this business a decade, you take “unsolicited offer” press releases, rumors and postings with a grain of… sand in this case.
The company is Canadian Oil Sands Ltd. trading OTCQX: COSWF and on Toronto as COS. Let’s see what people are saying on Twitter:
— StockBot Wire (@StockBotWire) October 5, 2015
And this as the Company apparently says “Thanks, but no Thanks…” or “… NO WAY IN HELL?”
— Seeking Alpha (@SA_FACTSET) October 5, 2015
You can see here that Gabriel Haukness documents the surge up:
— Gabriel Haukness (@ghaukne) October 5, 2015
Let’s take a look at what’ they are saying on StockHouse.com:
We’ll certainly keep watching this one!
Here is that press release… just out a few hours ago!
Canadian Oil Sands Responds to Unsolicited Offer
CALGARY, AB–(Marketwired – October 05, 2015) – (TSX: COS) (OTCQX: COSWF) Canadian Oil Sands Limited today responded to the announcement by Suncor Energy (Suncor) that it is making an unsolicited offer to acquire all of the outstanding shares of Canadian Oil Sands.
The Board of Directors of Canadian Oil Sands together with its advisors will review the Suncor offer and related take-over bid circular and will communicate a recommendation to shareholders as soon as possible. The Company had previously engaged RBC Royal Bank, as financial advisor, Osler, Hoskin & Harcourt LLP, as legal advisor, and Kingsdale Shareholder Services, as strategic shareholder services advisor and information agent, who will now assist the Board in responding to the Suncor offer.
Shareholders are urged not to take any action or make any decision with regard to the Suncor offer until the Board has had an opportunity to fully review the Suncor offer and to make a recommendation as to its merits.
Shareholders will be promptly notified of any recommendation of the Board through a news release and circular in accordance with the applicable securities law.
Shareholders with questions are encouraged to call Canadian Oil Sands’ information agent and strategic shareholder services advisor, Kingsdale Shareholder Services at 1-866-851-3215 or firstname.lastname@example.org.
Toronto Stock Exchange: COS
Canadian Oil Sands Limited
COS holds a 36.74 percent interest in the Syncrude project, the largest producer of light, sweet synthetic oil from Canada’s oil sands. As a pure play in Syncrude, COS provides investors with long-life, light crude oil exposure and since 2001 has paid dividends totaling $7.8 billion.
For more information please visit www.cdnoilsands.com
For further information contact:
VP, Investor & Corporate Relations
Director, Investor & Corporate Relations