From the Financial Post
Suncor Energy Inc.’s $4.13 billion takeover of Canadian Oil Sands Ltd. looks far from certain, with the target’s share price trading at a record gap to the bid just a day before expiring.
The market “seems to be pricing in a reasonably high probability it doesn’t happen,” said Randy Ollenberger, an analyst at Bank of Montreal’s BMO Capital Markets unit in Calgary. “It kind of reflects the fact that the market is concerned about the downside risk here if it doesn’t go ahead.”
