Calgary, Alberta-based Canadian Oil Sands said the shareholder rights plan is meant to give its shareholders and board adequate time to evaluate Suncor’s 4.3 billion Canadian dollar ($3.3 billion) all-stock offer and any other unsolicited bid or strategic options. The company reiterated that shareholders take no action on the Suncor bid until the offer has been fully reviewed by its board. “The board will consider Suncor’s unsolicited offer in both the current context and in light of the strong long-term potential of Canadian Oil Sands,” Canadian Oil Sands Chairman Donald Lowry said in a statement. Shareholder rights plans, or poison pills, are designed to dilute the value of a stock by flooding the market with additional shares, which makes it expensive for an investor to acquire a controlling stake. The rights plan, which is in addition to one already in place, would be triggered upon the purchase of 20% […]