Post by
ElmerFudd13 on Jul 14, 2006 1:26am
not the final offer
I dont think we have seen the final offer.
Paying $12 mil to accept a higher offer will not discourage another bidder. Agreeing to not "solicit" another bidder does not prevent another bidder from coming forward.
The only thing that is for sure is that FE is now in play and will be sold. I suspect that on friday the stock opens higher than the current offer. Sit tight and wait for this to play itself out.
Comment by
RossFAmann on Jul 14, 2006 10:08am
This is a pretty rich offer: C$90,000/f-b (my abbreviation for "flowing-barrel of oil equivalent" or boe/d). Canadian juniors and income trusts both average around C$75,000; American independents are around US$50,000.
I expect Shiningbank has already won the bidding war and doubt we'll see a higher offer.
Comment by
jamieb3 on Jul 14, 2006 10:15am
I would agree it is probably a done deal. As far as it being a rich offer, that's rich. Nothing surprises me about FE though. They have an agenda, and that's for certain.