RE:RE:This is an ALL CASH DEAL at C$2.20/share.braincloud - you bring up a great point. however, i am certain that you are aware that deals such as these are done with a whole conglomerate of consortiums and would have taken a while to broker through.
Advisory firms, law firms, banking and investment firms would have been at the boardroom table to work out the inks to the deal. Getting $572 million++ in an all cash deal is not that difficult as this is not a capital raise for an exploration well program..the firm has a proven asset base of > billion barrels of oil and is a current producer with assets. The credit lines - if needed - would have already been secured prior to this deal being approved by Bankers Petroleums board. Furthermore, this is good for the management team and Canada in general, as the base of ops remains in Canada. They don't lose their wages and increase the share price on their holdings.
Frankly, i have not seen many agreements that have been laid out as clear as this. An all cash deal for C$2.20 share with a clause for a superior proposal. Board has pretty much open an invitation to Shell to counter-offer and secured their jobs.