October 16, 2015 / 9:15 PM / 2 years ago

Canadian Oil Sands board to reject Suncor bid on Monday: source

President and CEO Steve Williams of Suncor Energy addresses shareholders during the company's annual general meeting in Calgary, Alberta, April 30, 2015. REUTERS/Todd Korol

TORONTO (Reuters) - Canadian Oil Sands Ltd’s COS.TO board has evaluated the hostile takeover bid from rival Suncor Energy (SU.TO) and is poised to reject the offer as too low on Monday, according to a source familiar with the matter.

Earlier this month, Suncor offered to buy Canadian Oil Sands for $4.3 billion. Canadian Oil Sands owns a large stake in Canada’s largest synthetic crude project, Syncrude, in northern Alberta.

Reporting by John Tilak; Editing by David Gregorio

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