Canadian Oil Sands Ltd ripe for takeover – and Imperial Oil Ltd is the most likely suitor: analyst – Mining.com
April 14, 2015
The company with the largest stake in oilsands miner Syncrude Canada is a prime takeover target and its most likely suitor is the company with the second-largest stake, according to a research report published Monday.
But the report’s author, oilsands analyst Michael Dunn of Calgary investment firm FirstEnergy Capital, said many variables would have to line up before Calgary-based Imperial Oil Ltd. (25 per cent Syncrude owner) could make a successful bid for cross-town rival Canadian Oil Sands Ltd. (36.74 per cent Syncrude owner).
One of those might be a partnership with Calgary-based oilsands giant Suncor Energy Inc., which inherited 12 per cent of Syncrude when it bought Petro-Canada in 2009, he speculated.
