RE:RE:THE STAND WITH SEYMOUR CAMPAIGN!!!Sure the offer is substantially higher than where COS closed on Friday though that was awfully close to it's all time low - ever.
If you took the average price for COS over the last ten years it would still be way above $20.
Really even at the end of August COS got up to $7.90 without any offer from SU and that’s not too far below what SU is offering now.
Three months ago COS was over $10 a share - that’s not exactly ancient history.
So it’s plain to see the SU offer is an insult.
Two things moved SU to move on this offer. COS was at an all time low due to the fire and the tide appears to be turning on oil prices as anyone can see US production is collapsing and supply / demand tightening.
The SU CEO isn't stupid - he knew before he offered it would get rejected. It was just his opening move - that is unless he just likes to waste his time.