RE:RE:RE:If CJ were to be acquired... Yes is MUCH more likely Cardinal consolidates it's region and consumes other players than they are to be taken by someone else.
With the current company status, any deal to buy us has to be at a very large premium to make sence, due to our near debt free status, large free cashflow, low decline, large reserves, and tax pools...
Our current market cap is $1.2 billion @ $7.71, our price could easily rise in the near future to $10 which would be $1.6B and my personal target is $14 which is about $2.2B (which is likely acheiveable in $100 oil world and/or with more add ons). I haven't even added 20-40% premium to sweeten the deals.
Anyone buying us likely would want to do it sooner than later and I dunno that anyone could do it in a freindly purchase or hostile. I don't know that we would be interested in combining with someone who has larger expenses and a less attractive FCF per produced barrel.