CALGARY, Alberta, Oct. 6 (UPI) -- The unsolicited bid put on the table by Suncor Energy is far below what represents a fair value, a main shareholder at target Canadian Oil Sands said.
Suncor Energy, the largest energy company in Canada, offered about $3.2 billion for rival Canadian Oil Sands Ltd. in a hostile bid. Seymour Schulich, a Canadian billionaire with a 5 percent stake in Canadian Oil Sands, told the nation's Financial Post newspaper the offer was off target.