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Suncor Hits 52-Week High on Proposed Takeover Bid

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Suncor Energy Inc. (T.SU) hit a new 52-week high of $46.91 on Friday. $51.5-billion U.S. hedge fund Elliott Management disclosed its 3.4% economic interest in Suncor Energy on Thursday. The news pushed SU stock 12% higher for the day — an impressive move for an otherwise laggard.

Activist investors find target companies with solid growth potential but are plagued by operational or management-related issues. They buy a small but influential stake in the company and propose strategic changes to the existing board. If the board fails to implement those changes, activist investors could escalate into proxy fights to take control of the company’s board.

Patriot Battery Metals Inc.(C.PMET) hit a new 52-week high of $2.43 on Friday. No news stories available today.

Vital Energy Inc. (V.VUX) hit a new 52-week high of 42 cents on Friday. No news stories available today.

Lorne Park Capital Partners Inc. (V.LPC) hit a new 52-week high of $1.50 on Friday. No news stories available today.

Read:

Secure Energy Services Inc. (T.SES) hit a new 52-week high of $6.71 on Friday. No news stories available today.

Urbana Corporation (T.URB.A) hit a new 52-week high of $4.19 on Friday. No news stories available today.

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