Incitec Pivot Ltd T.IPL

RE:Qunity

[Quintessential1]

Maybe all that stuff you said is true and maybe not.  "I feel" is speculation.

Here is what I know.

PPL just screwed up by telling BIPC how much they want IPL (Horse traders they are not).

Not only did they tell them how many synergies exist by combing the two entities and guaranteeing a market for their propane  but they also told them that IPL and HPC will make their own mothballed plant and assets viable.

If BIPC doesn't bid the hell out of this then they are not the deal wranglers we both know they are.

Here's what I think:

Why haven't they bid it up yet?  Because they are still buying shares cheap on the open market.  It's also why they didn't increase their offer but repackaged it so they could extend the tender deadline and pick up more shares.  The ASC hearings will be fun but inconsequential either way.

 When they do bid it up they will either get IPL and sell the assets to PPL for a heavily marked up price.after firing every one of the BOD or get PPL to out bid them and recieve a very nice return on the shares they have acquired in the process. (30% ish).  PPL will easily go to .6 - .7 to 1 for IPL and it's synergies. 

In the meantime I have nothing to lose hanging onto my shares and waiting. 

youknowwhat wrote: As a former shareholder in IPL 2008 to 2018 and a current shareholder of PPL I should stay out of this but what the he-ll

You are unhappy with both deals then sit on your hands and do nothing. I think that BIP saw an opportunity and low balled IPL with $16.50, everyone was up in arms.

I bet that PPL approached IPL or even possibly vice versa and they scratched together the deal. IPL and PPL had lawyers and financial advisors to comment to the boards of both companies. Then the BOD made a decision.

So the disgruntled shareholders of IPL best make sure that IPL has the resources to see the completion of Heartland through if they are going to turn down both offers. I get the feeling and it is only a gut feeling that IPL is having trouble getting HL to the finish line. I also feel that BIP had the same gut reaction. When the market crashed BIP moved and took a substantial stake in IPL thus the $16.50 offer.

I also feel that IPL shopped IPL quietly through the industry after receiving the $16.50 and found very little interest.

So whats my point well simple as a PPL  shareholder I would not be happy with .55 of a share but my word would not be heard as I only have 1500 shares of PPL.

I have always found that a business deal never makes one side very happy. Usually there is some disappointment on the buy side and the sell side and if that is the case then one probably has a decent  deal.

If one of the companies made an initial offer of $24.00 I bet the same comments would be going around saying we need more. HUMAN NATURE emotions all the things that make a asset owner think their asset is worth more then the guy with the MONEY that is offering to buy it.

As I said anyone who does not like either offer do nothing and maybe by doing nothing you will force one of them to up their offer.