Suncor launches unsolicited offer to buy Canadian Oil Sands for C$4.3 bln

Mon Oct 5, 2015 6:44am EDT
 
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Oct 5 (Reuters) - Suncor Energy Inc launched an unsolicited tender offer to buy Canadian Oil Sands Ltd in an all-stock deal valued at about C$4.3 billion ($3.29 billion).

Each Canadian Oil Sands shareholder will receive 0.25 of a Suncor share for each share held. Including Canadian Oil Sands' debt of C$2.3 billion as of June 30, the deal is valued at about C$6.6 billion. ($1 = 1.3076 Canadian dollars) (Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)