Birchcliff Energy Ltd T.BIR

Takeover

[Donhow]

I wouldn't mind a take over but not at this price. The cost of a dividend is not that bad compared to losing half the potential. If Bir has debt and buys back shares they are just borrowing from the banks to buy shares. That says they prefer banks to shareholders. I read that some of the recent buybacks were to purchase optioned shares. If management wants to be paid with shares to reflect the value they created then they should have to sell on the market and take the hit for insider selling as well. Otherwise take your salary and pay your taxes like everyone else. Or quit.

[PlutusofCrete]

Minimum takeover price should be $15. 

[Burgersandfries]

Seriously? If was worth that buyers would be offering $8 or $9 right now no one is going to offer $15. Let's keep it a bit real.

[PlutusofCrete]

I'm doing my best to keep it real.  As a shareholder, I believe $15 minimum. I won't sell for anything less.  We should be able to reach those highs in a sustained bull market with no debt and a good divy.  The SP has been higher than $15 in the past. Given inflation and the increase in the money supply, I believe we should be able to at a minimum reach those heights

[Burgersandfries]

Well we are possibly a year away from being debt free maybe if we are real lucky end of q3 or 4 and gas needs to remain strong. so I agree with 15 bucks but it's a ways off! You say you won't sell for less? Unfortunately that's a decision the company makes for you. 

[PlutusofCrete]

Well it's not the company that makes the decision...its the majority shareholders.  Burgersandfries - (2/22/2022 3:55:42 PM) RE:RE:RE:RE:Takeover Well we are possibly a year away from being debt free maybe if we are real lucky end of q3 or 4 and gas needs to remain strong. so I agree with 15 bucks but it's a ways off! You say you won't sell for less? Unfortunately

[Burgersandfries]

Theoretically yes! realistically no! Are you going to organize the holders of half plus one of the 265 million shares to vote no? Good grief!. Shareholders hate almost any takeover yet they still seem to go thru without hesitation. JMHO 

[Donhow]

My prediction is BIR will be bought by TOU for 7.01 before they raise the dividend.

[PlutusofCrete]

This would be true in cases where companies are close to bankruptcy.  Shareholders are forced to take a deal.  When times are good - if mgmt and BoD do not find attractive bidders...shareholders will mobilize. You should not doubt the power of the shareholder in the good times.  I don't think there are many investors with over 10% ownership in BIR so every vote counts.