RE:Undervalued and underwhelmedNo question this should be 24 - $25 min. There is either things we do not know, like they MUST sell but that seems unlikely with the gov cheese of 400mil recently announced.
Basically, we're at teh beginning of recovery and a massive bull run in energy. Pipelines will be booked solid. Heartland on its own would be impoosible for anyone else to build right now. Its exists. No one is going to get approvals to build another tommorow.
We are being fleeced IMO. I too have held for years, thru all this garbage ... I defended management for not milking the LKC deal (which was ill prepared) ... but my payoff is to be sold for much less. I like Pembina, its a nice div, but I'd like to be rewared for my $ not ripped off when I have no doubt IPL will be trading at $30 after year one of Heartland operations.
Sadly, we have zero say in the matter. IPL is pushing this Pembina deal. Broofield's is a joke. They are total sharks. However neither deal is great for shareholders of IPL who watched pricipal and divends shatter. Now that the party is about to begin IPL looks to me taking big sign on bonuses over shareholders cashing in on their risk.
Figlen wrote: Wow, I am impressed with all the great mature comments on here. I understand those who have already cashed out as we are getting near the end game and a sure thing is better than uncertainty. For those who weren't in it for a quick trade I ask why we would accept a mediocre return of $20 give or take and split the future upside of Heartland with a partner when IPL could be worth upwards of $25 in a year and $35 with a successful execution of Heartland within 3 years. Is my math way off? PPL would be a fine choice but it is a low bid and would need to be raised to buy out my shares. Brookfield would need to make up for the lack of future income by raising their bid to $25 ...or we can turn down all options and go it alone. To sum up my thoughts: make it worth our while by stepping up with better offers! Thanks again for all your input...Len