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Hess Corporation Message Board

  • fastball.98mph fastball.98mph Feb 10, 2013 11:30 AM Flag

    The Elliot plan should have a majority of shareholer support

    1. Spin-off the shale plays into one company and get similiar valuatons as CLR, RRC. (~$30)

    2. Divest the midstrem assets as an MLP. Here in the letter they only mention the divesiture as freeing up capital, but an IPO could garner a hefty valuation, similar to CHK's IPO of ACMP.

    3. The remaining company 'Hess International' would be a streamlined pure E&P, that would likely be taken-out by any number of compaines for a further premium....

    Altogether $126 seem's fairly conservative. The other option is to keep rolling nowhere with John Hess.

    Sentiment: Buy

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