Q: Hi 5i
WRT howards question on takeover targets, what percentage would you expect to effect a successful acquisition of either of these two....how would determine this, back of envelope calculation?
What was the chord offer for ERF
Thx
WRT howards question on takeover targets, what percentage would you expect to effect a successful acquisition of either of these two....how would determine this, back of envelope calculation?
What was the chord offer for ERF
Thx
5i Research Answer:
We are a bit unclear on the question. We would put takeover odds at 25% for TVE and 45% for BIR. BIR has been up for sale in the past. Wde think either would need at least a 30% control premium offered. Chord has offered $1.84 cash and 0.1013 shares of CHRD for each share of ERF. The premium at announcement was 18%.