Suncor Energy Inc launched a hostile bid for Canadian Oil Sands Ltd on Monday as the slump in oil prices encourages consolidation in Canada's oil sands industry, which has some of the world's highest operating costs and lowest prices.Canadian Oil Sands and Suncor are among stakeholders in Canada's largest synthetic crude project, Syncrude, in northern Alberta.Alberta's oil sands are the world's third-largest crude reserves after Saudi Arabia and Venezuela and a leading source of U.S. crude imports.Suncor's all-stock offer for Canadian Oil Sands is valued at about C$4.3 billion ($3.29 billion).
Suncor Energy Inc. (Suncor) is an integrated energy company. Shares of SU fell by 1.75% or $-0.47/share to $26.39. In the past year, the shares have traded as low as $24.20 and as high as $36.35. On average, 4725820 shares of SU exchange hands on a given day and today's volume is recorded at 5366412.
Suncor Energy Inc. (Suncor) is an integrated energy company. Shares of SU fell by 2.35% or $-0.83/share to $34.54. In the past year, the shares have traded as low as $30.89 and as high as $40.93. On average, 3244040 shares of SU.TO exchange hands on a given day and today's volume is recorded at 3790475.