RE: RE: RE: RE: RE: RE: RE: SVY, ESN, HNL I only used RONA as an example of a company that is undervalued
and exception to the ABC Funds overweight commodities.
Lowes offer to Rona was $14/share (roughly 40% premium)
Many shareholders are upset the offer was rejected. IMO if another
offer is tendered? It will likely be over the $14 mark.
Mgmt. at Rona have been given a wakeup call and are agressively
buying shares (canadianinsider.com).
Enough of Rona/ on the Savanna board. I live in Colorado and
feel more akin to my Calgary brothers, than I do to the east or
west coasts. We both look out our back windows at the sun setting
over the Rocky Mtns. There is a large presence of Canadian service
rigs represented by Calfrac, Ensign, and Savanna, developing
the Niobrara shale in my backyard Colorado/Wyoming.
There are too many service companies operating the same
sandbox and there will be consolidation because these
companies are bidding on the same projects and margins
are squeezed. Michaels knows this.
Flint was his largest holding going into 2012 and it was acquired.
I think Savanna, and Essential fit in the acquiree catagory and both pay
a nice dividend to wait.