RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:we need senior management change I realize that my opinion is a minority opinion, but after digging into the details of the takeover offer , ther were many details that were very sketchy at best ( such as TD writing the fairness opinion (one liner) while they were the major player that led to the rake-over. There is a lot more, I won't rehash all of it , but I mention it as a reminder to shareholders in Canadian stocks as to one of the issues leading to the undervaluation of the whole Sector.
Tragically , I think that CNQ hurt themselves more by the sullying of the industries reputation than they gained by making such a relatively small acquisition !!
Skysohigh wrote: I used to follow that board actually and as I see it Ward ran that company into the ground over years of mismanagement. The shares were around 60 cents or something like that IIRC by the time CNQ swooped in. I wouldn't judge CNQs tactics as despicable, more like opportunistic. They took out the weakest "prey" in the herd of small cap gas to the benefit of their shareholders with almost perfect timing. That's what I'd like to see SU management do.
Oldnagger wrote: As to the rake-over of Painted Pony shareholders by CNQ, I would merely like to comment that I am encouraged by the fact that Suncor did not indulge in the same despicable tactics as CNQ. For details go to the painted pony stockhouse BB. A truly tragic tale of greed on the part of CNQ , Pony's president (who left with a golden parachute ) and collusion by the Canadian banks (particularly TD )
IMO