GTE, Jeff Scott, SAXON, 185M shares in the open market1) I just want to intervene because some folks seem to have no idea about the market. A guy said that an acquirer could acquire TID at the current price of 8-10 cents. So why pay more?
This is absolutely wrong, to use the most politically-correct word.
Put a BUY order of 185 million shares (50% of TID) at C$0.10 and you will see that it will never get filled. You might get 1 million shares at best and this is all. Nobody can accumulate such a huge amount of shares in the open market at the current price. And do not forget, this is only 50% of TID.
2) On top of that, the insiders own 53 million shares (15% before M&P deal, 21% after the deal). Apparently, No deal CAN be completed if these insiders do not agree with the offer.
3) Jeff Scott AND Walter Dawson co-founded Saxon Energy. So they are buddies.
This is why, GTE is the most likely acquirer of TID. Several E&P companies have their own drilling or oilfield services subsidiary, MHR (Magnum) and TPLM (Triangle) and HK (Halcon) and OAS (Oasis) to name a few.
So connect the dots and try to think beyond the 7-8-9-10 cents daily trading. Do not let this stupid trading fool you or keep you OUT of the game.
Any prudent retail investor has to buy at these levels and see the big picture a few months ahead, instead of trying to earn 2-3 cents by trading TID daily and miss the deal when the deal or some material news are announced suddenly one day.
Here are the links about Jeff Scott that prove he co-founded Saxon with Walter:
https://www.forbes.com/profile/jeffrey-scott/ https://www.newswire.ca/fr/story/762395/gallic-energy-ltd-announces-appointment-of-jeff-scott-to-board Mr. Scott has extensive mergers, acquisitions and public company experience. Over the last 16 years he has been involved in a variety of capacities from founder to officer and / or director of numerous publically traded companies. He was a co-founder and director of Saxon Energy Services, an international drilling company. Mr. Scott is currently also a director of Tuscany International Drilling Inc. and Petromanas Energy Inc. Mr. Scott holds a Bachelor of Arts degree from the University of Calgary, and a Masters of Business Administratio