Trican Well Service Ltd T.TCW

Issuing stock to acquire ESN

[auburn2]

Don't you think TCW should be considering an all-stock takeover of ESN?

[Adonis1411]

You are 100% correct. Then should spin the downhole tool business (TCW was in it before - sucked at it; sold it to NOV). The thing that makes that difficult IMO is the incumbent Board and Management at ESN. Huge change of control payments (relative to market cap) payable if a deal got done and a bunch of long time directors lose their gravy train... ESN is an undervalued business no doubt. Small

[HugeCrane]

I mean I wouldn't say no, but is this the best option out there considering Armoyan has basically inherited CFW. I haven't crunched any numbers and want to see what CFW looks like after 2021 q1, but I'm leaning towards some kind of a M&A with CFW just because of Armoyan. If I'm way out to left field just say it. Don't sugar coat it, but I want reasons why or why not. 

[Nikm10]

Armoyan owns 15% or so of TCW? Thats not enough to force an M&A, no way TCW shareholders vote for that, in order to get their money back the CFW shareholders would need to get a huge chunk of TCW shares and that would dilute the current TCW outstanding way too much and considering they just basically got out of that after the canyon aquisition I just dont see it, I mean maybe but highly

[HugeCrane]

Thanks Nikm10. I think you're right. I'm way out in left field with that speculation. I had always been against any kind of an acquisition up until a couple weeks ago, but I think seeing all the activity with producers got my imagination running a little wild. 

[2020oilgamble]

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