CALGARY, Alberta, Jan. 4 (UPI) -- In a declaration of independence, Canadian Oil Sands Ltd. urged shareholders to reject a hostile bid from rival Suncor before the offer expires on Friday.
"Suncor's substantially undervalued bid is set to lapse, and when it does they say they will walk away," Canadian Oil Sands board Chairman Don Lowry said in a statement. "For all of us, as shareholders, this scenario reveals a far more compelling and valuable alternative: Independence."