....and there is only one logical explanation, CNQ will tender an offer. If it had been Sunoco, Rick George would have resigned.That was the reason they were both brought on board, and those two companies were the most likely buyers. I increased my holding by 40 per cent this morning.
There are several "logical explanations" one of the possibilities might be a takeover by CNQ however because Markin is "NOT" a company insider what is the conflict other than he is still a large shareholder ? Don't know who "Sunoco" is but Rick George formerly from Suncor is "NOT" an insider and would not be in conflict if an unlikely deal came forward ( they are still digesting PetroCanada. Not many people have the financial resources to pick up shares like AL but insider trading reporting has Rick picking up shares a month ago. Holding 622,000 PWE shares is not exactly pocket change and demonstrates his desire to have significant "skin" in the game. The strategic review is just getting under way headed up by Jay Thornton who will look at several options which include " JV's, divestitures , splitting up the company, outright sale etc. This will take some time and while I am long there will be no quick flip here.
Aura.... You fail to realize perception is reality in many circumstances..... You will have every legal team looking to gain on any announced deal for shareholder rights.... Markin in a big holder in CNQ .. 300 million worth.... And former director..... And now he stands to make big money on any announced Pwe deal.. Up to making 18 million.... On a $16 offer..... Removing himself from influence is the right decision at this point.
Well, a sell rating from an analyst on the news is a start. Friday's selloff hasn't carried over (yet) today. So it seems that the market is still thinking this through. To carry on brryry47's thoughts, interesting that Allan Markin bought shares but Rick George did not in recent weeks, so ostensibly George would be rewarded as a director of the company in a buyout, Markin though his acquisition in public market. Who knows, obviously. It would also be odd that Markin buy so many shares if he thought he might be on the outs.