Incitec Pivot Ltd T.IPL

RE:RE:RE:RE:RE:Activist Investor

[SargeX]

Hey Leo

As always, fantastic to hear from you and what you're up to.

That is really cool on Koch. I worked in the mining industry starting with coal and base metals and drifted into some oil sands starting in the late 90s. I remember the Koch brothers quite well. One of the projects I worked on was Fort Hills when Koch owned it.

I also know what you mean about old friends but some of them were sort of good riddance (like ALA and HR.UN).

That;s interesting on Shaw. I always had a hate on for them when it was the Shaw boys messing things up. Wuth them out of the picture, they seem to sound much better now. I have a  look every once and a while but haven't pulled the trigger. My wife & I are underwieght the teco sector mainly because we're TSX listed only so that doesn;t leave many options (we own BCE & T).

The main utils like EMA & FTS have sure been getitng creamed with the 10 yr treasury on the rise. We have a full position in both (along with AQN and CPX) or we'd be adding now.

Take her easy
  Sarge

leo101 wrote: hey sarge, i trimmed a bit today @ $17.88 and it was like losing an old friend.  i originally bought koch pipelines @ $5.87 in 2002. i'm tempted to buy more enb but i'm still way overweight on pipelines. i'm sniffing around ema and sjr.b

SargeX wrote: My wife & I are long term holders from Mar 2010 and have added along the way. As mentioned, we sold 1150 shares that we bought for $13.18 on Jan 21/21 for $17.53 on Feb 11 when BIP made the first annoucement. We've also trimmed another 1300 shares at an avg of $17.77.

That leaves us with 4250 shares. I think I'd be willing to sell another 250 at $18.30 and another 2000 above $19 and the last 2000 above $20. 

We also own full positions in ENB, KEY, PPL, and TRP so would still have quite a bit invested in midstreamers and all have way higher yields than IPL.

I realize there's a pretty high potential for bigger returns but it might be time for us to move on. We've been in a major cleanup mode lately (for various reasons) with dumping ALA and HR.UN and selling all of our BEP.UN, BPY.UN, and PKI and trimming half of our NPI.

Ciao
  Sarge

mrbb wrote:

i'm sure brookfield had looked into many takeover plans and it seem they took this strategy by choice. Maybe they thought ipl holders are so discontented and wore down that ipl holders would bail at a 30% premium offer. Technically we are still in a covid lockdown phase, so most people are running out of free covid money.   

 

bttmfischer wrote: This hypothesis may be flawed. If  Brookfield( I own BIP as well) really wanted to
acquire IPL, they would want to do it  as economically as possible.
Raising the share price of IPL is not the right way.
Since IPL's board rejected the hostile takeover, Brookfield would have to purchase
enough IPL shares on the open market, to gain control. They could have done it, BEFORE before
the price went up to $17+. But they didn't.
Now the question is, what is it  they are really doing?