Reply to EstvevanOutsider II & Mr. montrusEstevanOutsider wrote:
"Thanks. Good insight. I don't think GMT is onboard with Hammerhead but maybe something that could occur if all else failed. CPG expansion into the Montney makes a lot of sense to me and the acquisition of Pipestone would give them a gateway to pursue more M&A. Two of CPG's boardmen are former CEOs of ARX which shows a strong interest in Montney expansion?"
Yep, that's the way i see it to now. The Hammerhead merger should have happened by now, so there's definitely some type of obstacle there between the two preventing it and i doubt it's a price issue. A reluctantcy to consumate one for reasons unknown besides a monetary one is obvious and leads one to believe there might be some anomosity there between the folks involved. Power stuggle maybe? Who knows really, only they do.
As for CPG, i still fail to see the synergies between the two companies. Much better options available for Crescent than Pipe. Here again, who knows what there line of thought is for CPG even making an offer to Pipe other than they were the best deal around & probable the only willing seller at the time. If i was their consigliere, i definitely wouldn't rec'd a hit on poor old Pipe and attempt to take their territory. Better riches elsewhere for them.
In the end, i still believe Pipe will get sold to someone in the next 6 months. If they don't then GMT & Pipe will have some major soul searching to do and figure out what their next move will be, because in it's current state they would to make some big changes if they are to compete and remain profitable for the next 10 years. So look for the usual suspects like CNQ or Topaz/Tourmaline to up their game and make some moves, but i doubt they would be THE buyer for Pipe as they are too Scrooge like got Pipe's tastes & get a deal done with them. More likely are the candidates i metioned previously, guys like Paramount, Nuvista and most definitely Mr. Spartan himself, which the last, has ALL the reasons in the world to make one happen.
montrus wrote:
"Well written and appreciate your take on this, mrm. There was another company I KNOW of that took a serious look at PIPE back in the summer too. That makes at least 3 companies now that have had a look at taking them out. From my perspective, that would make the recent low price an attractive point to re-start a conversation re: a buy out. My hope is that is does not occur as I do believe it is under its value at this time. JMO"
Np Mr. Montrus, my pleasure. If it helps you in some way, great, and the objective of these boards has been fulfilled. So there was another conspirator in the midsts besides those mentioned already? Interesting. You wouldn't mind sharing the "person of interest" with us would you? It could be some grounds for some interesting debate & speculation on our part if you're willing to do so. Would probably be another critical piece in this twisted jigsaw puzzle for us to solve. As for your last statement, i think everyone here is well aware & agrees with you that The Pipe is trading at levels where it shouldn't be. The real question is.... what will it take? and should be directed at those thugs over at GMT HQ
GLTA