RE:RE:Ithaca annonced takeover offer possible for UK Sterling rsI think he's a guy who got hosed in sterling and/or Iona, and is now fantasizing that iae will come to the rescue. It ain't gonna happen.
Iae is in good shape, but they won't overextend themselves by increasing debt. Rather, as we saw today, they are deleveraging nicely. Also, their deal with Delek forbids further dilution, so iae could not buy those companies by offering shares.
Iae ad looks to be sticking to the plan -which is to more than double their production in about 8 months, and deleverage. All the while they enjoy some of the best hedges in the entire industry.
Looks like we we may be getting close to finishing consolidation at this level. Hopefully the next leg up will happen soon.
Jmo