Longview Oil Corp LGVWF

Update

[Al42]

Longview Announces Update on Unsolicited Non-Binding Proposal

Tuesday, February 11, 2014

 

Longview Announces Update on Unsolicited Non-Binding Proposal

06:00 EST Tuesday, February 11, 2014

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./

(TSX: LNV)

CALGARY, Feb. 11, 2014 /CNW/ - Longview Oil Corp. ("Longview" or the "Company") announces that further to its press release issued earlier today regarding the receipt of an unsolicited non-binding proposal (the "Proposal") from a public oil and gas company (the "Interested Party") to purchase all of the issued and outstanding shares of Longview ("Longview Shares"), Longview has been advised that the Interested Party has submitted an expression of interest to the underwriters (the "Underwriters") for the secondary offering of Longview Shares held by Advantage Oil & Gas Ltd. (the "Secondary Offering"), to purchase, and the Underwriters have allocated to the Interested Party, 9.3 million Longview Shares under the Secondary Offering, representing approximately 19.8% of the issued and outstanding Longview Shares.

There is no assurance that the Interested Party will acquire any Longview Shares under the Secondary Offering. Further, there is no assurance that the Interested Party will effect any transaction with Longview, or that any transaction will result from the Proposal or, if a transaction is effected, as to the terms of any such transaction.

[Duffman]

Was thinking about this last night.  The timing of the secondary offering and the unsolicited takeover was just too coincidental.  I figured that is was very likely that the company who had their eyes on LNV bought a significant portion of the secondary offering; this would also explain why the offering through RBC was closed almost immediately.  Not entirely sure how this will

[Nawaralsaadi]

It seems they have already been allocated, from the press release: “”the Underwriters have allocated to the Interested Party, 9.3 million Longview Shares under the Secondary Offering, representing approximately 19.8% of the issued and outstanding Longview Shares.” That 19.8% will not change the premium, if anything it may increase it since the buyer will have to buy only 80% of the shares at a

[itsalie]

Everything points to a buyout but the stock prices seems a little stagnant? Any thoughts on why?

[Nawaralsaadi]

Don’t worry the stock will reflect the buyout reality in the next few weeks, at this stage information remains limited about the identity and the details of the offer, but as we move closer to the end of the month the stock will continue to increase as the buyout reality sinks in. I welcome market inefficiency to make money, rather than worry of it. Those who don’t have a full position should

[sherbrooke1]

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