Suncor said it would sell 71.5 million common shares priced at C$35 to finance the deal.
The company also plans to use proceeds to cut its debts and "for opportunistic growth transactions that Suncor may identify in the future".
Suncor has also granted an option to underwriters to purchase up to an additional 10.7 million common shares at the offering price. If the option is exercised in full, the gross proceeds from the offering are expected to be around C$2.9
