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Suncor Energy wins 73% Canadian Oil Sands shares, declaring takeover a done deal

The shares make Suncor the largest shareholder in the Syncrude oilsands complex north of Fort McMurray, Alta., which is operated by Imperial Oil.

CALGARY – Suncor Energy has announced that just about 73 per cent of Canadian Oil Sands shares and accompanying rights have been tendered to Suncor’s offer.

Suncor officials asserted consequently, the organization will be able to make sure that a subsequent acquisition transaction will be completed and Suncor (TSX:SU) will acquire the remainder of the outstanding COS shares.

In mid-January, COS (TSX:COS) accepted a sweetened takeover offer from Suncor Energy because the market outlook for oilsands producers deteriorates.

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