Originally posted by in*10*se
^so assume they already have the 23% on the board, and they only need another 10%. I'll bet you your holdings that the more than 10% is held by institutions that are more than ready to vote yes. Crescent easily could crush any counter offer by Tundra or Fort Calgary.
They've got 23% between CPG interest and the board. Need another 43.67% to make it go through. Not sure where your 10% comes from? And yes, I'd totally encourage them crushing any competitor's bids with a higher bid. Either way, I doubt it'll happen.
Originally posted by davidI
CPG's definitely using their inflated share price to make acquisitions.
Anyone know of other shops they're likely after?
I don't "know", but I hear rumors and can make guesses. My best guess is Arcan Resources (ARN). They've got land in the Swan Hills play with Crescent Point offsetting. I own Arcan; great company. A more far fetched guess is Second Wave Petroleum (SCS). Same play, FAR crappier land position, looking at "strategic alternatives", but I think if they get bought out, it'll be someone else (Pengrowth maybe). I don't hold them right now and am not sure if I'll buy any. A takeover is priced in already IMO.