Canada Southern Petroleum Ltd (CSPLF) Holder Arnhold and S. Bleichroeder Calls $13.10/Sh Offer "Unsatisfactory"

In a 13D filing after the close on Canada Southern Petroleum Ltd. (NASDAQ: CSPLF), 10.2% holder Arnhold and S. Bleichroeder said the $13.10/share offer from Canadian Oil Sands, which has been recommended by the Issuer's board of directors, is unsatisfactory.

From the 'Purpose of Transaction' section of the filing:

"The Reporting Person originally acquired Shares for investment in the ordinary course of business because it believed that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. The Reporting Person believes that the $13.10 per Share consideration offered in the revised tender offer from Canadian Oil Sands, which has been recommended by the Issuer's board of directors, is unsatisfactory. The Reporting Person is reviewing its options with respect to the Shares reported herein and its representatives may, alone or with others, engage in discussions withmanagement, the board of directors, other shareholders of the Issuer and other relevant parties concerning its investment in the Issuer as well as its views with respect to the proposed transaction and potential alternatives to the proposed transaction."