Osum Oil Sands Corp. responds to hostile takeover bid by an affiliate of Waterous Energy Fund
March 2, 2021
171.00 Million CAD
On November 19, 2020, a special committee of the board of Osum Oil Sands Corp. (Osum) released a recommendation to shareholders to reject a hostile takeover bid by an affiliate of Waterous Energy Fund. Entities controlled by Waterous Energy Fund, an energy-focused private equity firm headquartered in Calgary, became shareholders of Osum via a secondary share sale in July 2020.
Osum is a private energy company, based in Calgary, focused on developing oil sands assets in Cold Lake and Saleski, Alberta.
McCarthy Tétrault LLP is advising Osum and the Osum Board of Directors (excluding the special committee) with a team led by John Osler that includes Toby Allan, Simran Choongh, Sean Smyth, Myriam Hacault, Mark Risebrough and Emma Holmes.