Post by
retiredcf on Mar 23, 2024 1:19pm
Done Deal or Not?
Do you think there will be another offer to take over ERF?
It is possible; Devon was interested in ERF earlier this year. There is a $240M break fee, but the premium was only 18%. Also the deal is mostly for CHRD shares which potentially leaves a cash bid from another party more appealing. We would give odds about 15% to 20%. (5iResearch)
Comment by
matt2018 on Mar 29, 2024 9:00pm
It looks like a done deal. The break fee seems high plus the market likes the combination of these two. Both companies well run, with very little net debt, synergies, plus both stocks have been going higher since offer was announced. speculation only.