OTCPK:BLKPF - Post by User
Post by
pablo87on Oct 26, 2018 12:04pm
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Post# 28878202
MEG s/h are up 20%+, PXX s/h are down 8%
MEG s/h are up 20%+, PXX s/h are down 8%So despite all the turmoil in the markets and WCS, MEG shareholders are still up over 20% compared to the pre-offer share price. Whereas PXX shareholders are down 8% (from $1.29 to $1.19).
On that comparative basis, PXX should be trading at least $1.60. Moreover, we know HSE is going to need to come up with a better offer. So the concept of $1.85 offer for PXX shares is reasonable on a comparative basis. The implementation however is not (reasonable).