Post by
Ibribr on Aug 10, 2020 8:27am
Oh
cnrl makes huge mistake by closing deal in late sept and not earlier. By then, NYMEX will hit $3 and TOU competing offer will jack up sale price!
Comment by
Maxmoe on Aug 10, 2020 8:53am
CNQ May have been too cute on the price here. Similar to the baker bid for HBC last year. If the first bid is too low, it will attract hedge funds to hijack the process and greenmail a higher price. Or a competing bid. 20 mill is not a prohibitive break fee and not easy to legally/morally enforce. I'll wait a week to see how this plays before I move on to next M&A target.