BUZZ-Canadian Oil Sands Ltd: Suncor Energy launches hostile bid

Mon Oct 5, 2015 10:17am EDT
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** Canadian Oil Sands Ltd up 47.5 pct at C$9.14; top percentage gainer on the Toronto Stock Exchange

** Canadian oil and gas producer Suncor's shares down 2.1 pct at C$34.60; U.S.-listed shares down 1.8 pct at $26.38

** Suncor launches all-stock hostile bid for Canadian Oil Sands, 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, Suncor's Toronto-listed stock had fallen 4 pct this year, while Canadian Oil Sands' stock had fallen nearly 41 pct this year ($1 = C$1.31)