RE:RE:RE:RE:RE:RE:RE:RE:BTE vs MEGYes good point. MEG fought that $8 hostile bid tooth and nail and prevailed. HSE was being opportunistic. That's what I worry about. I'm sure the offers are coming to MEG's execs on a monthly basis, but they know the real value is in keeping things small and maximizing torque. It's probably only a matter of time until we see another hostile bid. The assets are too good and the value is very cheap by historical standards.
My bet is CVE once the new CEO fully settles in.
jleer42 wrote: Going back, but Husky couldn't buy MEG. It was due to larger long term holders who understand the value of MEG. I expect an aquisition would still not go through unless it fully valued MEG's future. Probably safe until there is a re-rating in O&G, until then other companies will be the aquistion target.
riski wrote: I think MEG is the MOST LIKELY company in the oilpatch to get taken over. All of CVE, CNQ, and SU would love to have MEG, with CVE being the most logical acquirer due to economies of scale.
This is my biggest concern in owning MEG. One of the megacaps is going to swoop in and take them out for 25% premium leaving all kinds of returns on the table that would have been realized in the next 18 months.
MEG is an easy double from here by next year if WTI holds - not increases, just holds above $70.
Antonyius wrote: No one is going to acquire Meg at these oil price environment and company valuation. It's just not a good deal for the acquirer. Meg themself won't sell because they're making good money. Baytex or AOC would be an acquisition target IMO before baytex did this ranger deal.