Just got a reply from SUSounds like they don't intend to raise the bid.
feel free to give opinions:
Dear James,
Thank you for your feedback. The materials related to the offer, and our justification for the offer (which is a fixed ratio of 0.25 Suncor shares for every COS share) can be found in the circular located on Suncor.com under the
Investor Centre.
Suncor believes that the consideration under the Offer represents a full and fair price for the Shares at a substantial premium to the pre-Offer market price and provides Shareholders with the opportunity to increase their dividend received, maintain oil price exposure and participate in Suncor’s future growth. Shareholders should consider the following factors, among others, in making a decision whether to accept the Offer. The background to the offer can be found on page 40 of the circular and further to that, the reasons Suncor has put forward to COS shareholders to consider when reviewing the offer.
Subsequent to the April 2015 discussions, the broader oil and gas market has experienced significant deterioration. As of October 2, 2015, NYMEX crude oil futures had decreased 17% since April 9, 2015. More broadly, market expectations regarding a potential crude price recovery have become more tepid, with many analysts expecting a longer price recovery period and lower long-term oil price outlook than was expected earlier in the year. In addition, many exploration and production companies in North America and globally have cut capital and operating expenditures, general and administrative expenses and production forecasts in response to the realities of this lower crude price environment. During this period of uncertainty, Suncor continued to evaluate market conditions and evaluate the Company, including its future prospects and estimated value in light of the persistence of the lower crude oil price environment. Upon conclusion of its review, Suncor re-validated its belief that a transaction between itself and COS would be beneficial to both sets of shareholders.
Many Thanks