Suncor Energy Inc. offered to acquire all outstanding shares of Canadian Oil Sands Ltd. for about C$4.3 billion ($3.3 billion).
Under the terms of the offer, each shareholder in Calgary-based Canadian Oil Sands will receive 0.25 of a Suncor share. Including the company’s estimated outstanding net debt of C$2.3 billion as of June 30, the total transaction value is about C$6.6 billion, Suncor said in a statement Monday.
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Suncor Energy is a and oil producing company based in Canada.
Suncor Energy holds various exploration projects in Canada.
Its main exploration property is SUNCOR OPERATIONS & BASE MINE in Canada.