Suncor said it will take up all tendered shares and those shares will be paid for in accordance with the terms of the offer.
All shares tendered were held by “Independent Shareholders” as such term is defined by the COS shareholder rights plan.
“We’re pleased with the strong level of support from COS shareholders,” said Steve Williams, president and chief executive officer of Suncor.
“From the outset, we’ve spoken about the excellent value this offer creates for both COS and Suncor shareholders and I’m looking forward to delivering on that commitment,” he said.
Any shareholders who wish to tender shares who haven’t yet done so have until February 22 to tender, according to the terms of the friendly agreement.