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[doverbeach] 15/6/2008 18:47

Lamprell looks good

[grgkecer] 15/6/2008 10:35

Now we're in the end-game, what's to replace Expro as an oil sevices investment?

[grgkecer] 13/6/2008 19:11

I said that 3 weeks ago:

grgkecer - 23 May'08 - 17:31 - 313 of 323 edit


The "Quote" tab on ADVFN will give the RNS announcements. The Halliburton one came after [308], so my "quick" remark referred to Umbrellastream's increased offer - but Halliburton were even quicker with their response. I don't think we'll get above £17.

[mirshahik] 13/6/2008 18:26

Seems like Haliburton are splitting atoms or something! Any guesses where it will finish? I say £ 17.

[grgkecer] 13/6/2008 14:22

Umbrellastream's last throw?

[mirshahik] 13/6/2008 10:44

Thanks Grgkecer.

[grgkecer] 13/6/2008 07:43

June 20th?

As described in the supplementary scheme document posted to shareholders on Tuesday, 27 May 2008, the Implementation Agreement (as described
in the Scheme Document) has been amended so as to provide that Expro is able to postpone or adjourn either the First Court Hearing past 23 June 2008 or the Second Court Hearing past 25 June 2008 if an independent competing offeror announces a higher cash offer (in accordance with the requirements of Rule 2.5 of the Takeover Code) on or before 20 June 2008.

[mirshahik] 12/6/2008 15:50

Is there a deadline? When?

[grgkecer] 12/6/2008 07:14

Expro and Halliburton ( both making acquisitions, but what this means for Halliburton's buying Expro . . . ?

[grgkecer] 03/6/2008 12:12

Expro confirms that it continues
to be in discussions with Halliburton
So what are they arguing about? It can't be the price since that would have to be higher than the one they've already recommended. Management jobs?

[mirshahik] 23/5/2008 19:17

Cantab, don't give up your day job.

[grgkecer] 23/5/2008 17:31

The "Quote" tab on ADVFN will give the RNS announcements. The Halliburton one came after [308], so my "quick" remark referred to Umbrellastream's increased offer - but Halliburton were even quicker with their response. I don't think we'll get above £17.

[patchway] 23/5/2008 17:12

Thanks grg
saw the numbers racing but couldnt find the news
Where do you go quickly for info that you can be confident of?
What was quick in your 308, the Candover reply,the price rise or the Hal rejoinder?
1620 looks three further bids away without a pre-emptive KO.
Hal must have been fishing, trying to finesse Can's top offer.
Can are trying to win without paying too much more than their rival would.
They are being clever and mean, after all there can scarcely any shareholders who wouldn't call it a day at £20!!!!!

[grgkecer] 23/5/2008 16:39

Candover increased bid to £15.50 and Halliburton say they're still interested.

[patchway] 23/5/2008 16:35

wHAT'S HAPPENED

[cantab] 23/5/2008 16:27

This is all too much for me - I'm out! Good luck to everyone with the balls to hold for a revised bid from Halliburton.

[grgkecer] 23/5/2008 16:14

That was quick.

[cantab] 23/5/2008 11:17

Not to worry, even at 12.50 that was a tidy profit and it's better than the 8.60 I'd obtained from some of my earlier holdings!

I agree re the straight fight, and I'm not convinced that Candover have anything more to offer, so it's just a case now of whether Halliburton satisfy themselves with the additional due diligence.

[thamestrader] 23/5/2008 10:35

No, cantab, sadly i dipped out at the (then) dizzy heights of £12.50 or so, and didn't have the b*lls to ghet back in when I realised my mistake.

I think its a straight fight now between HAL and umbrella stand or whatever they're called. I don't think any of the other big oilservcos (Schlumberger, Baker, Weatherford) could move quickly enough now, eespecially as they, like HAL, have FCPA issues of their own to worry about.

[cantab] 23/5/2008 10:15

TT, nice to see you back on board - are you back in, or just an interested observer?

I seem to recall that the Expro board were pretty bullish about this and didn't feel that the Nigerian business gave any cause for concern for Halliburton. That being said, it's understandable if Halliburton are being careful based on previous events. Maybe this current delay is just to buy them a little time to reassure the DoJ that they've conducted a thorough review of FCPA issues?

Do you see a higher bid coming in (from either Candover or A N Other) or do you think it's just a case now of waiting for Halliburton to formalise their offer?

[thamestrader] 23/5/2008 10:07

Due to FCPA and SEC issues arising in Nigeria etc., Halliburton is having to tread very carefully regarding aquisitions. Expro also has business in these countries, and HAL won't want to "buy" more FCPA-related problems.

Several oilservcos have similar issues, and their every move is being watched by SEC appointed moinitors, hence they are walking on eggshells to avoid massive fines and the sight of senior executives/CEOs being jailed.

[grgkecer] 23/5/2008 08:41

Perhaps they are expecting a new bidder to emerge, and are keeping something in reserve.