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Deals Rumor Mill: Suncor, BofA Merrill Lynch, Banpu Power

By Benjamin Horney (October 5, 2015, 4:53 PM EDT) -- Canadian Oil Sands Ltd. is planning to reject Suncor Energy Inc.'s hostile all-stock bid worth $3.3 billion, Reuters reported on Monday afternoon, citing "a source who is familiar with the situation." The takeover bid, launched earlier on Monday, would see Canadian Oil Sands shareholders receive 0.25 Suncor shares for every share they own, with Suncor saying that the per share price represents a 43 percent premium based on both companies' stock prices as of Friday. According to the report, however, Canadian Oil Sands will likely refuse even to negotiate with Suncor....

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