Canadian Oil Sands board to reject Suncor bid on Monday -source

Fri Oct 16, 2015 5:08pm EDT
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TORONTO Oct 16 (Reuters) - Canadian Oil Sands Ltd's board has evaluated the hostile takeover bid from rival Suncor Energy and is poised to reject the offer as too low on Monday, according to a source familiar with the matter.

Earlier this month, Suncor offered to buy Canadian Oil Sands for $4.3 billion. Canadian Oil Sands owns a large stake in Canada's largest synthetic crude project, Syncrude, in northern Alberta. (Reporting by John Tilak; Editing by David Gregorio)