Gear Energy Ltd T.GXE

Is this semi hostile takeover attempt?

[lovehockey]

Every new day I process more information and it doesn't make sense more and more? Did Cenovous force management's hand to present this offer to the shareholders for a vote? How does this make sense if this company could have been sold for $0.70+ in July and August? That was when the company had $7 million more debt than today and the management was giving promises to concentrate on more return to shareholders? 

Is that possible that Cenovous may have had a leverage on the management to force this idiotic offer upon shareholders? What is the real story here?

[greyowl]

No - it is just plain TAKEover of sorts.  As usual the brokerage firms provide the "backroom" data to the brains behind the operation.

[ztransforms173]

- CVE did NOT FORCE ANYTHING on ANYBODY - CVE WANTS ONLY the HEAVY crude oil as the medium and light oil is NOT USED as FEEDSTOCK at the Llyoldminster ASPHALT REFINERY and separate UPGRADER - the 'ARRANGEMENT' is GXE BODs' RESPONSE to MEETING the Cenovus Energy CONDITIONS OF SALE z173

[greyowl]

And the SHAREHOLDERS of GXE would have been willing to sell OUR oil to  them on the OPEN market.  Cenovus would not even have to bother with this "TRANSACTIOM". to have access to it. 

[Quintessential1]

Reminds me of that old joke:  Hostile dogstyle, wolfstyle,  anystyle.   CVE is getting a deal here for what they want .  You can't blame them for that and it is hardly hostile with managment's approval.   If management is not performing their fiduciary duty that is on them and them alone. GLTA