The Rising Influence of Rising Affluence

[DewDiligence]

SU, COSWF reach agreement on merger:

http://www.wsj.com/articles/suncor-reaches-friendly-c-4-24-billion-deal-for-canadian-oil-sands-1453119525

Suncor Energy Inc. and Canadian Oil Sands Ltd. confirmed Monday that they had reached a friendly deal after Suncor agreed to raise the takeover offer for its rival to roughly 4.24 billion Canadian dollars ($2.92 billion).

The two Canadian energy companies had been working on a revised bid since last week, said a person familiar with the matter.

The new all-stock offer, which boosts the overall bid value from about C$3.78 billion, consists of 0.28 of a Suncor share for each Canadian Oil Sands share, up from 0.25 of a share previously. The firms valued the new bid, based on closing prices on Friday, at roughly 6.6 billion Canadian dollars, including debt of roughly 2.4 billion Canadian dollars.