Suncor steeped up its hostile Cdn$4.3bn bid for COS by asking the Alberta Securities Commission to strike down the target’s rights plan to prevent a takeover.
Blame Fed Chair Janet Yellen, as she said earlier this week that a rate hike in December was a “live possibility” if the economy continued to perform well.
The company, Canada’s largest pipeline operator, reported a loss in the third quarter driven by both delays in completing its Line 9 project and one-time charges.
Most mining companies and financiers active in Mexico, Central and South America continue to explore, develop and operate projects despite current market conditions.