BUZZ-Suncor Energy Inc: Launches hostile bid for Canadian Oil Sands

Mon Oct 5, 2015 8:05am EDT
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** Canadian oil and gas producer's U.S.-listed shares down 3.9 pct at $25.80 premarket

** Suncor launches all-stock hostile bid for Canadian Oil Sands Ltd valued at about C$4.3 bln ($3.29 bln)

** Offer, which works out to C$8.84 per share based on Suncor's Friday close, represents premium of about 43 pct to Canadian Oil Sands' Friday close

** Deal is valued at about C$6.6 bln including Canadian Oil Sands' debt of C$2.3 bln as of June 30

** Up to Friday's close, stock had fallen 15.5 pct this year ($1 = C$1.31)