Another BidderWhy would another Bidder come along in this environment?
IAE might be worth $2.50 at full production with the POO at this current
price. That said, there remains the commodity risk of a pullback and Lord knows when full production will hit the books.
Certainly there are other companies wishing they had jumped in ahead of Delek on the cheap.
Would they be willing to offer $2.25 or $2.50CAD, absolutely. Would they offer more right now...I very much doubt it. I ask, why would another company even offer $2.50, and spend a fortune setting it all up, when Delek would prob just do their price match,as per the deal. Delek would be pissed, but it would fly still.
Bottom line; as I doubt another deal will come about or even hit the News, I suspect that everyone will Cave through the fatigue of it all, commodity risk/ pullback or a Market/Trump pullback.
TIP: Since this sad deal has come about, the likes of dead cheap stock in this sector such as Crscent Point has jumped from $14 to $16, There are so many other places to make real money.
Give up the LOVE AFFAIR.