This takeover seems inevitable....unless Imperial Oil / Exxon comes in.
SU now only needs 51% to succeed because of the change from hostile to friendly takeover. Latest reports said SU has over 40% support from COS shareholders, now Schulich will be tendering his 5%, so SU is only short 5%.
From the look of things now, things seem pretty bad for those who do not want to tender like myself. However, I think it's time to move on and think of the next move. Keep your SU shares and get the dividends or go for riskier stocks and repeat all this all over again ?
Personally, I have lost quite a bit from trading COS, but it would've been the same if I invested in other oil companies anyway. A lot of other oil companies can rebound with a lot of torque and now is the time to look for those opportunities. I was thinking of XEG ETF like some others and I believe it is a safe alternative with moderate risk but still a pretty decent torque.
What are your next moves ?