RE:Interesting development....for sureYou're welcome.
Here's a bit more of the first news details to come out, from the COP side.
https://www.conocophillips.com/news-media/story/conocophillips-provides-notice-that-it-is-exercising-its-preemption-right-to-purchase-the-remaining-50-interest-in-surmont/ We will be disecting the whole story and the implications for Suncor soon.
MEG spiked at the same time as it is a takeover target for Suncor as a bitumen replacement on the news of COP's intentions.
I sold some MEG on the spike and bought more SU for the news fade and recovery, just a trade.
mrmomo wrote: And not the outcome i was "expecting". But i doubt this is far from over and this has many inning still to play out. I wonder what COP's endgame is in all this? Well, at least this has shown us two things, for me at least. One, i miscalculated (for now!) Conocop's intentions & motivations (maybe their REAL motives are still to be seen!!) and two, i greatly overestimated Suncor's mgmt team intellectual capacity & their managerial/investment acumen. But like i said, i think this saga is FAR from over and will just have to stick around a bit more to see hoow things develope from here. Big THX to Mr. MigraineCall for posting the news update this quickly.
GLTA