TSXV:NORA.H - Post by User
Comment by
Ihateshareson Dec 17, 2012 3:19pm
301 Views
Post# 20741316
RE: RE: RE: takeout offer - interesting
RE: RE: RE: takeout offer - interesting Well the first shot has been fired and yes it's not what we wanted but if it really is the best bid on offer now, why has OK not rejected it and waited for the PEA, I just hope management fully expects/knows competing bids are coming. To accept $2.73 expecting no competing bids, seems very poor management especially with a PEA only a couple of months away. Can't understand why waiting for the PEA would not be in the interests of shareholders.
If this is an undervalued bid, then the chances of a competing bid are high given Cope's statement that 4 majors were seriously interested. This is not a bad bid provided we get competing offers, if we don't then it is the best offer right now, but would it be the best after the PEA is released??
I will reserve judgement on Cope et Al, until this all plays out. Just to remind people that Cope was happy to state that getting the project back would end up in a better deal for shareholders compared to a PAAS buyout. They also said that OK would not be sold on the cheap!!