RE:RE:RE:Book Value of 0.40/Share or 100% premium.This announcement has nothing to do with the weakness in oil this morning but a logical conclusion which they have been debating in-house for months. Brookfield can't just make a redic low ball offer and hope that it flies for the remaining 25%, a fairness opinion letter must accompany any deal and I doubt you can get any firm to write one for less than book value at this point based on CWC's fundamentals . By hiring bankers they are adhering to their fiduciary role to act in the best interest of shareholders to see IF there is a strategic merger to be had. If not, then it certainly plausible for Brookfield to take them private till a much higher crude price allows them to re-ipo the shares.
Look, the current capital structure makes zero sense. The 75% brookfield ownership is a forbidding factor which majority of mutual funds/ETF's can not invest in by way of their internal controls. Same reason why only 1 sell-side firms follows them.
I just hope this is not a slow, drawn out process. There are only a handful of scenarios which make sense. HWO as a strategic buyer or Brookfield takes them private...not much else makes sense.