RE:RE:RE:RE:Thoughts on takeover?Oldnagger wrote: Sadly , former Painted Pony minority shareholders learned this lesson in spades. There is no protection against greed. Only recourse is to move on and try again. The effect is that the industry has now destroyed itself through their own stupidity and greed . No one will put any value on long term assets any more.
One of my major reasons for purchasing Peyto was its large PDP reserves. this offers some measure of protection, but in bad markets even that can be found wanting
What is badly needed in this Country are many more people like Darren Gee and his board , who have the experience and intelligence to run a successful enterprise. That is the true value of a company. Also it should be the true value of a Country !!
These takeovers are tantamount to theft at times. I had Nova Chemicals back in 2009 which got taken private at US$6 about CAN$7.50. Before the crisis it had spent most of the time around $30. I figure I had stolen from me about $1/3M. Of course the CEO made out fine.