RE:RE:Buying MoreI think a fair deal for either ESN or CWC can be had if they get creative with the structure of a deal. They could negotiate to get an expanded RLC, launch a new debenture, bot deal combo. I think by them having Cyrus Capital owning about 41% of their shares, they ultmately will make the call and have much input to the structure.
As a size holder of both ESN and CWC, we have stressed to both mgt. teams our willingness to accept a small premium to book value if it were to be a strategic merger as opposed to a cash-only bid by a pvt. equity or major service co.
]Well said re:PNG risk. The stock has fallen 30% off its 52-week high. While I think this is way overdone, the market is likely pricing in the possibility of HWO not extending/renewing their contract in PNG. Even if something does come through in time, it is likely that growth from the PNG operations will be relatively mute. Hence the importance of the timely expansion of their Canadian operations. A CWC or ESN acquisition would have been excellent, but this is quickly becoming expensive/dilutive given the 30% erosion in HWO shares price. Hoping to hear news on PNG and their acquisition strategy soon. GLTA[/quote]