GREY:STPJF - Post by User
Comment by
rehsifylfon Dec 17, 2013 10:33am
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Post# 22013454
RE:Nice start to the day
RE:Nice start to the day Actually, for most of these - it happens fast or not at all. Connacher had an unsolicted offer for more than a month before the market found out about it. Richard got greedy and that didn't happen, then West Face got involved and we know how that will end (read the story on Stelco to see how that will work). But the offer was in early before they sold off the good assets including the refinery. I believe that if anyone is interested in STP - they'll want to get all of STP and not wait until they sell off the assets.
One thing for sure - if an activist investor steps in and starts talking about shareholder value for STP - time to sell. They have one mission and that is to get the assets for pennies - and they don't mind losing a 10 million or so on common stock to do it.
Its very possible that STP has informal offers on the table.
Anyway - the MMs have backed off so this should pop over 20 anytime.