OTCPK:ICPVF - Post by User
Comment by
TVRon Jul 10, 2021 10:09am
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Post# 33526485
RE:RE:RE:RE:RE:Cash offer...........
RE:RE:RE:RE:RE:Cash offer...........The Hong Kong $30 offer from Li Ka Shing's company based in Hong Kong was never given serious consideration by IPL management. We never knew why they did not enter into negotiations on what appears to have been a serious and reasonable offer. An accepted offer from LKS would almost certainly have received approval in Canada. LKS has close ties to Canada, his son is a Canadian citizen, and he was the largest shareholder in Husky Energy (and is now probably the largest shareholder in Cenovus after their takeover of Husky) and has other significant Canadian investments. Today things are different and a Hong Kong company would probably be considered 'Chinese' and maybe unwelcome. Things were different a couple of years ago and a Hong Kong-based buyer would likely have been acceptable to the Canadian government.
I doubt we will ever know why management did not pursue that offer. We would all be a lot better off if they had.