Oil prices downOil prices are 20% lower than they were when Suncor made the offer. Even COS acknowledged that they need 45$ oil to break even and pay the dividend and hope for no operating problems.
Obviously things have deteriorated since and the offer was made and cos management have their back against the wall. If Cos management can't find another suitor or if IMO doesn't see value in making a bid, things will not be good for COS. This might be a 5$ stock. Just my opinion.