Novus Energy Inc NOVUF

another bid?

[outdawazoo]

Something about this smells funny.  Why did the company put itself up for sale when it was around $1.00/share and sell out at this price?  The company isnt under any financial duress.  Usually, in these sitations the motivation is for management to get out, get a 30%+ premium, grab the cash and start another company.

To sell the company at a 10% premium I am sure is not what they had in mind, and then work for another different management in a larger company, let alone a foreign company.  The superior bid fee of $10M is only 5 cents a share which is peanuts.  A Canadian acquirer could scoop the company at $1.23/share, so they could easily outbid the Chinese company.

Could be that this bid is bait for a larger bid?  For the record, I didn't sell anything today.  $1.07 is an insult.  It strikes me that people who are selling are being a bit impatient.  I will wait a few months to get my $1.18, possbly more.