Athabasca Oil Corp T.ATH

Take Under?

[indoubtgetout]

If Equinor dumps at 18 cents any takeover of ATH will be at or lower than 18 cents.   ATH management? - have they agreed to a take under?  Quite possibly - most of their options are underwater by a huge amount so they are best to take the side deal(s) offered by the acquirer.   Because ATH has not smartly bounced back to 23+ cents leads me to believe that the probability of a take under is high and thus the reasons why you have huge sellers today - they are in the know and us lemings are not.   ATH management has some xplaining to do so why are they not??

[Chris007]

The only possible reason a takeunder can take place is if they cannot roll the debt (see pengrowth), which got "taken under" by waterous That being said, if WTI keeps ticking up or even stays at current levels, possibility of refinancing is a lot higher now,  than it was in previous months

[bosstrade]

Impossible to take under until they can't pay bills next Feb. Its ATH buying shares my guess as of a few weeks back.

[Maxmoe]

Ath can't buy that many shares back. Securities laws limit then to 10% of the float in one year. Their own NCIB is more restricted. Anything else requires proper notification and osc prior approvals.

[bosstrade]

Agree, but like I said before 50 mill last yr and 50 mill this yr

[Maxmoe]

Nope, still can't do it. Impossible. It's not Ath buying back.

[Maxmoe]

If you're looking for a boring wet blanket explanation, maybe a big hedge fund or bank bought the block at 18 and is happy to just keep peeling it off at 19 or 20. Seems like a huge bite to chew for a profit of 1 or 2 pennies per share. Even on a 100 million shares, doesn't seem worth it.

[Maxmoe]

Now if you're looking for a more exciting possibility how about this. Someone or better, some two, have been quietly accumulating stock since the 11 cent low in November. But they were NOT the buyer of the block. Now we have at least 2 interested buyers of the company and a takeover battle is about to break out with at least 2 deep pocketed bidders. Plus me if anyone wants to lend me $100

[ManitobaCanuck]

Time to get out popcorn if that happens , would love a bidding war , lol ,my last home was sold in a bidding war for 90k over asking price . Somebody always tends to overpay when a bidding war starts . 

[Maxmoe]

Screw it, extra butter for me!

[Chris007]

Found the following article from business law firm, Stikeman Elliot pertaining to share buybacks via ATS': Intersection between TSX and ATS purchases   Notably, the TSX has drawn a clear distinction between securities purchased through the facilities of the TSX and those purchased on other exchanges or alternative trading systems (ATSs). Issuers and their buying brokers making

[Maxmoe]

Must be gut wrenching times for you Chris with your 100 shares. That's a whole $20 bucks on the line. Half your allowance!

[Chris007]

Very gut wrenching Maxy boy..That being said, entertaining times