Suncor urges Canadian Oil Sands shareholders to tender shares to its offer

Tue Dec 15, 2015 9:03am EST
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Dec 15 (Reuters) - Canada's largest oil and gas company Suncor Energy Inc urged shareholders of Canadian Oil Sands Ltd to tender their shares to its offer for the company.

Canadian Oil Sands adopted a poison pill two days after Suncor made its unsolicited all-stock offer in early October, which valued the company at C$4.3 billion.

"Hope is still not a strategy," Suncor wrote in a letter to Canadian Oil Sands' shareholders, stressing there was "little time remaining" before its tender offer expires on Jan. 8. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)