COS Shareholders Better Think Things Through......
The COS Board and CEO may have a certain bias / self-interest in rejecting any bid for the company that is anything less than ridiculously generous - Don't forget that the COS Board and CEO receive salaries from COS shareholders and I doubt that SU CEO Steve Williams would offer many (any?) of them positions with SU should it take over, so these guys would likely lose their jobs.........Perhaps that is why they rejected the alleged earlier bids by SU in the $12 range?..............Williams is a smart guy - he openly stated that IMO is the other logical bidder, so he doesn't appear overly concerned if IMO steps up with an offer......The real question is: Are COS shareholders prepared to have COS continue as an independent company for another one, two, five, etc. years or not?.....Williams may sweeten the current offer, but I suspect he has a compensation price limit in mind, and if COS's board / shareholders reject it, he'll likely walk away......This is a buyer's market and there are plenty of other oil sands / conventional / tight assets that are distressed from which SU and IMO can pick, so COS is not the only game in town......