RE:RE:RE:Top 5 Hammerhead Execs to get $70MCome on... IPOs are notorious for being over priced. The real market value was likely closer to 10. While there was a runup last spring in most E&Ps, why was there no corresponding sell off in September like CPG and others incurred? Instead HH just kept flying higher.
From the chart it looks to me like either games were being played among investment firms to pump the price higher, or trading occurred based on inside knowledge. How long does it take to negotiate a deal of this size and complete the due dilligence? Why did HH suddenly go public earlier this year, only to sell out months later. I smell something fishy in the state of Denmark.
Moemoney42 wrote: ACTUALLY... HHRS has not even been trading for 1 year yet.. the IPO ranged from ~$19 - $29.50 the first day of trading and closed at the low (give or take a few pennies) so using $19 as the market established IPO value the $21 take out price is only a ~10% premium..
Now it did trade down to ~$9 shortly after but at that point no one knew the real story behind their assets and CPG was still in the process of integrating their previous purchase and disposition of US assets.. so at that time HHRS wasn't even on the radar screen..
Hind sight is always 20/20 and we'd all be rich if we could trade based on past events.. but that's NOT reality.. :-/
Anschutz wrote: It's a club and average shareholders aren't in it.
While CPG shareholders watch their paper gain in shareprice for the year completely evaporate and any increase in dividends likely stalled until likely 2025 (due to need to pay down new debt), we learn that CPG paid a 40% premium for shares in Hammer Head that were listed publicly less than a year ago.
Wow. Simply Wow.
"Thank you sir, may I please have another."
Wuggy wrote: Whaaaaaaaa?
https://www.theglobeandmail.com/business/article-top-five-executives-at-hammerhead-energy-to-get-70-million-cash-payday/