Bullboard - Stock Discussion Forum Enerplus Corp T.ERF

Energy Oil & Gas E&P

Enerplus Corporation is a Canada-based independent oil and gas exploration and production company. The Company is focused on the development of North American oil and natural gas assets. Its portfolio includes light oil assets in the Bakken, North Dakota, and a position in the Marcellus natural gas shale region in northeast Pennsylvania. The Company's operations are concentrated in the core of... see more

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Enerplus Corp > Hang In There

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Post by retiredcf on Feb 25, 2024 1:15pm

Hang In There

It is a frienly cash and stock deal, valued at a 19% premium. But the value will now vary with the price of CHRD shares. It is interesting in that perhaps CHRD swooped in while Devon was thinking about it. As far as deals go it is not so hot: the premium is low and it is not all cash. Devon is a much larger company than CHRD and it it wants ERF it likely could top this bid. The ERF dividend will continue until closing (ratio adjusted with a final dividend). The deal looks fine from CHRD's perspective, with a larger, more diversified combined company with good synergies. We would hold here. This one may not be over. (5iResearch)

In addition, Eric Nuttall is back on Market Call on Friday. Pretty safe to assume that he will have some comments given that he has recently invested in Chord and made ERF a top pick. GLTA

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Comment by retiredcf on Mar 03, 2024 3:37pm

Obviously something came up to prevent Nuttall from appearing as scheduled last Friday. GLTA In one of your answers yesterday, you intimated that the sale of Enerplus might not be a done deal.... Do you know who the largest shareholders of ERF are ? As an ERF shareholder, I agree with your assessment that this is not a great deal. We need to see the circular when released to get some more info ...more

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