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InterOil Corporation Message Board

  • pickboone pickboone Feb 22, 2013 12:24 PM Flag

    Takeover attempt...

    One thing most investors haven't been contemplating is that if there are in fact "nonconfirming bids" for the entire company or all of E/A as has been rumored lately, these will likely be disclosed publicly. Such an event could impel shareholders to try to force the BOD to accept the larger bid. Essentially, this bidding process could be an inadvertent sale process for all of InterOil. Have a good weekend and sleep well. I know that I will.

    Sentiment: Strong Buy

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    • Something that could develop as early as next week? Could we get some bidder names tomorrow?

      Sentiment: Strong Buy

    • Getting closer to that definite possibility.

      Sentiment: Strong Buy

    • I would welcome a buyout of PRL15 for the right price, say $30 Billion. I would hope that major shareholders would resist a takeover of IOC. Eight more potential reefs represent a lot of upside to IOC

      Sentiment: Strong Buy

    • I would not be surprised at all.

      Sentiment: Strong Buy

    • pick,

      On the contrary, I believe most investors -- especially those with serious money in the game -- have contemplated the possibility/probability of "nonconforming bids."

      As a matter of fact, IOC's executive management have been fixated on the subject for years, repeatedly stating their "worry" that a takeover bid would derail their achieving maximum shareholder value, at least as fantasized by them.

      In addition, the SHU cult has also been fixated on the subject, discussing it in various ways, including periodic eruptions of discussion about poison pills and the like.

      Unequivocally stating that I would welcome a takeover RIGHT NOW, I don't think it is a foregone conclusion.

      Given how long it will take to build out even the 1st LNG train, from an investment standpoint, it would seem to be a perfect call to take the takeover premium money and run -- and I suspect those with the last several years of buy-and-hold investor fatigue to take the same position. Also, anyone who has recently bought could rack up a spectacular return in a short period of time and just move on with substantially more capital.

      IOC-type returns are always available for those who research and have the risk profile.


      Sentiment: Strong Buy

      • 1 Reply to valuesleuth
      • VS, I don't disagree with most of what you say, although the reference to SHU as a "cult" is ridiculous and sounds like some personal issue. However, fwiw I think you are inappropriately talking critically about pick as if you have some basic disagreement with him on the existence and significance of nonconforming bids. He is simply saying, if that is the case (which now would be in the form of binding bids), they would probably have to be publicly disclosed and could lead to a public takeover competition sooner than most people might have thought.

        Beyond that, previous "IOC-type returns" might be fairly available, but returns likely on IOC from the recent turn up and looking forward, either in the case of a takeover or a major sell down and progress forward on Gulf LNG and accelerated exploration, I think would be not only NOT "always available" but difficult to identify and achieve. Best regards and good luck.

        Sentiment: Strong Buy

    • Pick, I think it is a given that there will ba a hostile attempt and then a white knight, stock and cash bid

      Sentiment: Strong Buy

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