RE:Are COS Shareholders Ready To Cry "Uncle" Yet....? Cry Uncle? No.
Practically every oil production company in Canada has seen their stock price decimated over the past year. Investors can either throw in the towel at this low price, or hold out and wait for a recovery in oil price. I will be one of those that hold out.
I understand SU wants to buy good assets when they are cheap-- it makes perfect sense. But I think that many COS shareholders understand that the company is capable of riding out the storm and want to be around when things turn around. There are plenty of distressed companies out there that need to sell their assets now or very soon. SU wants to buy cheap so why don’t they pursue those rather than this hostile bid? Maybe they understand the value of COS. Is Suncor wasting it’s efforts?—there is a very good chance of that in the face of resolute shareholders.