Canadian Oil Sands urges shareholders to decline Suncor bid

Mon Jan 4, 2016 6:18am EST
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Jan 4 (Reuters) - Canadian Oil Sands Ltd urged its shareholders to let Suncor Energy Inc's unsolicited bid lapse, emphasizing that the company could remain independent.

Suncor, Canada's largest oil producer, is not expected to extend its C$4.3 billion bid after it lapses on Friday.

Canadian Oil Sands said on Monday it has the financial resources to weather the steep drop in oil prices. (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Maju Samuel)