Battle over Canadian Oil Sands hinges on one thing: crude prices
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SUNCOR'S bid for Canadian Oil Sands comes down to one number: the price of a barrel of oil.
With shareholders holding out for a better price than a quarter of a share in Canada's largest crude producer for each of Canadian Oil Sands, the price of oil may make them think twice. The bigger suitor is better positioned to endure a prolonged price slump, so as crude teeters near US$40, Suncor's offer looks more attractive, said Sachin Shah, a special situations and merger arbitrage strategist at Albert Fried & Co.
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