EstevanOutsider wrote:
"Rumor: Paramount & Pipestone had a deal at $7. fell apart. Pipestone & CPG had a deal at $6, rumor on the street is that GMT didn't accept."
Interesting Estevan. How soild or reliable would you rate those rumors? I had heard some rubblings pf something earlier a few months ago, but nothing too soild to be considered as meaningful, and the parties were not known. But if there's any truth to that, i wouldn't be surprised that Paramount is involved, they've been looking for some time for "potential" assets to acquire at attractive prices. And pipe fit the bill. As far Crescent goes, i'm surprised at that one, CPG could go after more "synergentic" assets than those of Pipestone. Also not surprised that GMT got greedy here, if of course there's ANY truth to what you say.......
Now what?Hammehead is a back-up plan.Does Pipestone get sold at $6 or do they wait it out further?
I can't see the private entities & their backers wanting to stay invested much longer in this industry or getting bigger, for many reasons. I see guys like Hammerhead as potential sellers now rather than huge buyers as they been in past years. But if Pipe truly wants out, as i've always believed they did, there are some "real" suitors besides those two.....
GLTA