Another Day, Another Bloodbath -- Canadian Commentary

(RTTNews) - Canadian stocks were hammered yet again Monday, as crude oil prices continued to collapse amid a global supply glut and concerns about the global economy.

The S&P/TSX Composite Index was down 147.72 points, or 1.22 percent, at last check.

The index has dropped to its lowest in three year, with most sectors falling along with oil stocks.

Suncor Energy Inc. (SU.TO) agreed with Canadian Oil Sands Limited to lift its initial stock offer to 0.28 of a Suncor share for each Canadian Oil share.

The amended offer has a total aggregate transaction value of approximately C$6.6 billion including Canadian Oil' estimated debt of C$2.4 billion.

Suncor shares dropped 5.5 percent.