Suncor bidding for COS, $6.6B

[Xtrema]

http://www.theglobeandmail.com/repor...ticle26648394/

[you&me]

Your move, Imperial.

[Darell_n]

Would the Syncrude unions all get punted out? This could get exciting.

[rob the knob]

doe the chinese own this?

[ZenOps]

It says the $2.3 Billion debt is included.

I wouldn't count debt, as one can always declare bankruptcy and/or find other ways to not payback creditors.

Keep the assets, spin off the losers and debt - close down the losers - socialize losses to the investors - $2.3 Billion debt gone. Donald Trumponomics.

This is why people like IP like "Minecraft" so much, there is no such thing as debt. Arguably it cost half a decade worth of labour of one man at a computer to create $2.5 Billion. There is no such thing as "debt" in that situation, and I'm surprise the Canadian government hasn't tried to encourage it more. Even if those five years worth of work are grossly overvalued and just laundering for US money printing, does it really matter?

[Sugarphreak]

...

[JRSC00LUDE]

Originally posted by rob the knob
doe the chinese own this?

They've got the bucks too.

[Sugarphreak]

...

[JRSC00LUDE]

Originally posted by Sugarphreak

I'd say they are still rich, but neutered at the moment

Oh deer....

[Xtrema]

Originally posted by Darell_n
Would the Syncrude unions all get punted out? This could get exciting.

Not likely, after all plenty of Petro Can staff remains still and this only give Suncor 49% of Syncrude.

Now I wonder if Imperial will sold off Syncrude shares and just go pick up Cenovus before it gets too expensive when acquisitions warms up.

[M.alex]

Suncor has too much money. When will Notley take from them and give to me?

[BavarianBeast]

Originally posted by Sugarphreak
lol @ people piling onto MEG today thinking they are going to get bought out

MEG is great compared to COS, why is that funny to you?

[killramos]

Good news for sellers of assets. Could indicate, whether correctly long term or not, the start of the buying for the industry. No one wants to get left holding nothing which should hopefully increase the strength of negotiations.

[Inzane]

Originally posted by Darell_n
Would the Syncrude unions all get punted out? This could get exciting.

What Syncrude unions? Are you referring to misc. contractor companies? As far as I know Syncrude's own work force has never been unionized.

[redmethods]

Originally posted by Inzane


What Syncrude unions? Are you referring to misc. contractor companies? As far as I know Syncrude's own work force has never been unionized.

This, Syncrude don't have a Union. Just Suncor.

[BandW]

Originally posted by M.alex
Suncor has too much money. When will Notley take from them and give to me?

Are you kidding me? ALL money is hard earned in this economy.

[phreezee]

COS rejects the Suncor bid: http://www.theglobeandmail.com/repor...ticle26866870/

[Feruk]

Meh, that means nothing. The offer was made directly to shareholders, not the board. I suspect Suncor will sweeten the bid a little, but I doubt anyone else is interested. Imperial won't be bidding I don't think.

[schurchill39]

Holy shit. Their letter to the share holders is aggressive as fuck. I guess this is the "hostile" part of the hostile takeover.

http://www.suncor.com/en/newsroom/5441.aspx?id=2010911

[R154]

Originally posted by schurchill39
Holy shit. Their letter to the share holders is aggressive as fuck. I guess this is the "hostile" part of the hostile takeover.

http://www.suncor.com/en/newsroom/5441.aspx?id=2010911

Jesus christ that release is gangster.

"your credit rating is one step above junk... you have until the end of the week to save yourselves"