Incitec Pivot Ltd T.IPL

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[marketsense]

There is obviously someone with deep pockets buying IPL stock in the open market and is
quite prepared to pay $18 or more.  Is it BIP,  La Ka Shing,  maybe PPL or someone else
buying up millions of shares.  Whoever is doing the buying,  must see their purchases as
having good value.   They are either speculating BIP will increase their offer,  or perhaps they
are acccumulating for a takeover offer themselves.  Who knows but it is very curious why
the stock is trading at a premium over the offer price after being down and out just prior to
the offer.   Another thing is IPL's primary business is suddenly bringing in serious cash again
so their whole profile of a beaten down oil infrastructure company has done a 180.

The BIP offer sparked the interest but I suspect IPL would have moved up anyways albeit
maybe in less dramatic fashion.  IPL stock fell off a cliff around $18 after news of the pandemic
hit the markets hard.   Now the reverse is happening.  OPEC is also holding the line with 
sustained cuts to production thus helping the whole sector recover.  HPL is the icing on the 
cake and for the big buyers of IPL,  a prize worth going for.