RE:More take over chatterIf SU has a standstill agreement with COS as a result of Steve Williams "the sellers want more".Then when that possible stand still expires SU could go hostile for $17 and likely rejected would offer $20.If so SU would get COS cashflow to discontinue COS dividends to finance COS pay back buy out costs with its control of COS dividend pay out.The run up to the $13.87 five weeks ago was likely because SU talked to COS about a take over thus getting a lot of media coverage of a possible merger.
The more we look at this merger the better it looks from both sets of share holders.COS would get folded into Suncors world wide operations retail outlets and refining in a stroner pair of hands.SU could issue some paper to COS shareholders so they could keep skin in the game to SUs 1 million bpd target growth.SU would control 51.7% of Syncrude and take charge of operations if they felt they needed to do so.That last point would also be a major motive to IMO as it is now in charge of Syncrude and likely does no want to give up control.
The way I see it COS could be in a bidding war between SU and IMO.I do not think COS will be around a few months from now.
Its a win win for both companies.