Suncor extends takeover offer for Canadian Oil Sands

It's looking like a bitter oilpatch takeover battlewill be dragging on for a few more weeks.

• MORE ENERGY NEWS |Deadline looms for Suncor takeover offer for Canadian Oil Sands

Suncor Energy has extended is $4-billion bid for Canadian OilSands until Jan. 27.

It's one option the oilsands giant had with its all-stock hostileoffer set to expire Friday evening.

The bid needed at least two-thirds support to go through andSuncor has said it would walk away if it didn't getsubstantialbacking.

The board and management of COS say the best way forward is forthe company to stay independent and that it's poised to prosper oncecrude prices recover.

Suncor argues that's a risky proposition for shareholders giventhe likelihood of a prolonged downturn in crude prices.