SUNCOR ENERGY INC. $37 (Torontosymbol SU; Conservative Growth Portfolio,Resources sector; Shares outstanding:1.5 billion; Market cap: $55.5billion; Price-to-sales ratio: 1.5; Dividendyield: 3.1%; TSINetwork Rating:Average; www.suncor.com) is takingadvantage of low oil prices with its allstocktakeover offer for Canadian OilSands (Toronto symbol COS).
< p>Canadian Oil Sands’ main asset isits 36.74% stake in the massiveSyncrude oil sands development nearFort McMurray, Alberta. It alsooperates the project. Suncor alreadyowns 12.0% of Syncrude, so thispurchase would give it effectivecontrol, with a 48.74% stake.
< p>Equipment failures and other problemshave hurt Syncrude’s productionin the past few years, and Suncorfeels its expertise running similarprojects will make Syncrude moreefficient and profitable. In the secondquarter of 2015, Suncor’s cash costsin the oil sands were $28.15 a barrel,compared to $54.45 at Syncrude.
< p>Under the bid, Canadian Oil Sandsinvestors would receive 0.25 of a Suncorshare for each share they own.If you include Canadian Oil Sands’debt, the deal is worth $6.7 billion.
< p>Canadian Oil Sands has rejected theoffer and has adopted a shareholderrights plan to give it more time tonegotiate a better deal, either withSuncor or another buyer.
< p>Even if Suncor has to raise its bid,its familiarity with Syncrude would helpcut the risk of a big takeover like this.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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TSI Network may revise this Policy from time to time.
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