OTCPK:ICPVF - Post by User
Comment by
Oldfart74on Jul 26, 2021 1:08pm
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Post# 33604825
RE:Agreed
RE:Agreedmarketsense wrote: I think "hapless" is a very good adjective in describing IPL's board in managing this whole
process. They gambled on the PPL offer and it cost IPL shareholders $350M. That is a
sizeable loss. The only mitigating factor is a slightly better takeout offer by BIPC but that
is the end of the HPC dream for IPL shareholders. The IPL board should be embarassed
to be nth degree over this. They have been schooled by both PPL and BIPC in how to get
screwed in a bidding process. What a travesty is all I can say.
The reality is that Heartland was not a good dream - it was a nightmare. IPL tried to get a partner - none was to be found. There were fortunate that PPL came to the table. It took a $350 million sweetener otherwise Brookfield would have bought the company for $16.50. I fault the Board for their past actions but give them good marks at the end for extracting an improved bid price.