Canadian Oil Sands Ltd. and 1212707 Alberta Ltd., subsidiaries of Canadian Oil Sands Trust, Calgary, (Toronto: COS.UN), have amended their offer to purchase Canada Southern Petroleum Ltd., Calgary (Toronto: CSW; Nasdaq: CSPLF). The cash offer has been amended so it is conditional upon there being at least 50.01% (as opposed to the previous 66.66%) of the Canada Southern shares deposited by Aug. 18. As of Aug. 1, a total of about 6.5 million shares (about 45% of total outstanding) had been tendered. Canada Southern chairman Richard McGinity says, "We have now seen five press releases from Canadian Superior in the twelve days since they first announced their intention to amend their original offer, but we still don't have an amended offer. Canadian Superior's failure to meet its own deadline further diminishes its credibility as a bidder in this process."
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