RE:RE:RE:RE:RE:Buyout per share if sold!No oil & gas company will respond well to take-over offers at this time as they are all trading at significant discounts to historical valuations and what their cash flows suggest/underlying resource.
My take on if a strategic investor acquires Ath is they are running ~20m per annum in corp G&A. At NPV10 that's 200m on what is only 350m market cap which by itself is just under 60%. Plus Ath sitting on significant tax pools which many strategic buyers would be interested in (and yes, these do have value). Plus trading a deep discount. Plus...you get the picture.
This is why it is my belief no one will make an offer - difficult to offer a number that the board will accept and that won't make you look like an idiot to your own shareholders from a strategic buyer perspective. We are in a holding pattern...