Suncor extends bid for Canadian Oil Sands until Jan. 27

Fri Jan 8, 2016 9:03pm EST
 
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TORONTO Jan 8 (Reuters) - Suncor Energy Inc said on Friday it has extended its hostile bid for Canadian Oil Sands Ltd until Jan. 27.

Suncor bid for Canadian Oil Sands in October and later extended the offer until Jan. 8, promising shareholders improved operating efficiencies and a dividend boost.

In response, Canadian Oil Sands has mounted a spirited defence of its independence, adopting a new shareholder rights plan known as a poison pill and urging investors to reject the "substantially undervalued" Suncor bid. (Reporting by John Tilak; Editing by Sandra Maler)