Little more than a week before expiry of the hostile takeover offer for Canadian Oil Sands Ltd of Suncor Energy Inc. Canadian Oil Sands Ltd., the target company's board again urged shareholders to reject the offer
Given the low price of oil, "now is not the time to sell" shares and COS are ready to rise along with crude oil prices, wrote in a letter to investors Donald Lowry, a board member.
COS share prices are 98% correlated with the oil price. Any upward movement of oil will lead to an increase in the share prices of COS. COS reported $ 8.47 per share, down from 1.5 percent. In continuation of the downward trend in crude oil stocks of Canadian Oil Sands Ltd, probably will not be worth anything.
E.Dimitrov JrTrader
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.