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Canada: Suncor nears $2.6 billion deal with Canadian Oil sands for merger

By  |  January 18, 2016

Suncor Energy Inc. and Canadian Oil Sands Ltd. are close to a deal, ending a stalemate after Canadian Oil Sands rejected a $2.6 billion hostile takeover bid from the country’s biggest oil producer, according to people with knowledge with the discussions.

The companies have been speaking in recent days, said the people, who asked not to be identified because the discussions are private. Suncor’s offer of 0.25 Suncor share for each of Canadian Oil Sands’s expires on Jan. 27. The advanced talks were first reported by the Wall Street Journal.

Full content: Bloomberg

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