That's not a counter....that's exactly a repost of their article from early Friday am. Reuters has a habit of reposting articles for whatever reason. And Whiting will not, nor should not comment on negotiations that are ongoing, material events.
The Bloomberg report late yesterday, written by two reliable journalists (how do I know that? I checked them out), states that Exxon, Continental, Statoil, and possibly two other companies are interested in acquiring all of Whiting, not just strategic assets, according to the report. Anything can happen next week, but I wouldn't sell my shares regardless. If you're just a day trader, you have a lot at stake; if you trust the process, you can wait it out. And even if there's a bid for the entire company at $48 a share or thereabouts, I'm still not selling, because I'm sure we can expect a competitive bid......Stay tuned.....
Of course they have...the other day, they said they're putting up the entire company for sale.....Today they said, as an alternative, they would consider selling some assets, if they're unable to sell the entire company.....What could be more succinct than that? I think traders overreacted to today's news, and now Bloomberg cleared up the confusion, in my opinion.
The problem is, their business space has a fairly large energy component, i.e. they're somewhat dependent on the price of oil. I'm considering buying the stock, but I'd rather wait until it probably retests the mid $50's level.
There are no fewer than 4 majors interested in acquiring the entire company, and I just read this from another source. Not assets, the ENTIRE COMPANY.....I'm not sure what people don't understand about that........The market understands, they're bidding the company higher in AH......
or about $48-$49 a share. Analysts say this sale will probably not light a fire under some M&A in the energy space, since they see WLL as an isolated case. I would stay short other names in the space, and go long WLL.
Wait, Yahoo board poster says XOM won't buy WLL......Bloomberg reports CLR and XOM are definitely interested......Who should we believe?
I'd much rather see WLL sell selective assets, perhaps not connected to the premium shale assets, which would obviously cut down the debt, and make WLL a much stronger company poised for growth, when oil does rebound. In the meantime, their balance sheet would be vastly improved. Although sale of the entire company is still in play with JP Morgan leading the sale, an asset sale would be a better scenario, in my opinion, and probably in the opinion of most WLL shareholders.
You'll always have the traders, who were hanging on thinking Exxon or someone else would buy everything for $40 or so, and that's who's selling in pre-market....But when the dust clears, you'll find that this is clearly a buying opportunity.
He has no comments at all about the presentation.....He'll lose big on LL, just like he lost on NFLX.
And go up from there.....
He'll probably come back on CNBC and tell everyone he's shorting more, he doesn't believe them, blah blah. You think he'd offer a mea culpa, but no, he's an arrogant short who's wrong yet again.
CBS 60 minutes will recant their story, and Tilson will lose yet again, just like he did with his Netflix short.
Lou...Go long the common as I have.....this is going to be the mother of all short squeezes.....It won't go straight up, and they'll be zigs and zags for sure, but there's money to be made here...