Canadian Oil Sands has interest from rival offers to Suncor bid -CEO

Thu Oct 29, 2015 5:16pm EDT
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CALGARY, Alberta Oct 29 (Reuters) - Canadian Oil Sands , the largest-interest owner in the Syncrude oil sands project, has not received any offers to rival Suncor Energy's hostile takeover bid but is "getting interest", chief executive Ryan Kubik said on Thursday.

Suncor, which has a 12 percent stake in the joint venture Syncrude mining and upgrading project, made a C$4.3 billion ($3.27 billion) offer this month for Canadian Oil Sands.

In a phone interview, Kubik said top shareholders have told him Suncor's bid "substantially undervalues Canadian Oil Sands' assets". (Reporting by Nia Williams; editing by Grant McCool)