Suncor Agrees To Increase In Original Offer To Canadian Oil Sands - Quick Facts

(RTTNews) - Suncor Energy Inc. (SU.TO, SU) and Canadian Oil Sands Limited (COS.TO) announced they have reached an agreement to support the offer by Suncor to purchase all of the shares of COS. Suncor has agreed to amend its offer to provide for an increase in the original offer to COS shareholders to 0.28 of a Suncor share for each COS share.

The Amended offer has a total aggregate transaction value of approximately C$6.6 billion including COS' estimated debt of C$2.4 billion.

"We are pleased to have the support of the COS Board of Directors and shareholders, including Seymour Schulich, and have been advised of their intent to tender their shares," said Steve Williams, Suncor's president and CEO.