Gulf Keystone Petroleum Share Discussion Threads

[1712notout] 05/11/2016 11:54

Exclusivity and similar arrangements in a private M&A context are often requested. However, on a public takeover the Code prohibits the target agreeing deal protection measures (broadly defined as “offer–related arrangements”). This catches exclusivity agreements, non-solicitation and break-fee arrangements, all of which are prohibited as a general rule during an offer period or when an offer is reasonably contemplated.
By contrast, standstill agreements impose obligations on the bidder only, and are therefore permitted.

[1712notout] 05/11/2016 11:48

Be interesting to see industry comparator ev/2p

I cant find any even approaching the discount GKP trade at

How bizarre

Massive Buy of course

[1712notout] 05/11/2016 11:19

One could ask
If one wanted too
How could a friendly bid be protected - whilst its conditionality implemented?
Well one way - a common way is a scheme of arrangement with lock up and diluton

20:9 Dilution takes out hostile toe holds
Scheme prevents hostile intervention
Giving time to fulfill inside DD and consummate

In any negotiated corporate acquisition, there is a substantial risk that the deal will not be consummated. Changes in the business environment occasionally may lead the target board to renege. Another party may approach the target board with an alternative, presumably higher-priced, acquisition proposal; indeed, target management might initiate negotiations with a second party before presenting the initial bid to the shareholders. Alternatively, a competing bidder may directly present its proposal to target shareholders by making a tender offer for their shares. The exclusive merger agreement is intended to discourage the target board from reneging on the merger agreement or, at the least, to reimburse the initial bidder's up-front costs if the deals does not go through. The operative provisions of exclusive merger agreements may be conveniently divided into two basic categories: performance promises, such as a no-shop agreement; and lock-ups and cancellation fees.




Lock up prevents target from being naughty

So are GKP worth an EV/2P off .80????

or is something cooking in parallel to Second amendment etc ??

Well lock up terminates dec 15 or sooner

The conditionality (e) remains in place

Massive buy imo
:)

99.7% yesterday HOLD

[oilman63] 05/11/2016 10:27

I will be in Stockport tonight so how much love would you like ???

[1712notout] 05/11/2016 10:23

Scheme

Friendly Bidder protection

Takeover

Boom

Bang

Gone

IMO
Much love
😇😇😇

[dudishes] 05/11/2016 09:49

O_I, Picking on the ladies again (thought you had learned your lesson, seems not). I guess you are under pressure, what with your family investment at 80 odd pence. 32inch, is that your false heels, or something else?

Police at the door, must rush, as they are swimming (just leaving Port Grimaud harbour)!

What a plonker!

[1712notout] 05/11/2016 09:29

Yes bang gone Id say

Boom

Massive buy
😶😶😶😶8566;😮

[sharesiq88] 05/11/2016 09:12

As forecast by those of us on 'The Road to Takeover (by bondholders)' page.

Spot on if I may say so myself.

[1712notout] 05/11/2016 08:38

Xom
Total

[hearts1] 05/11/2016 08:21

Think you'll find the Bondholders took over at 0.0083.#shard@ponzi

[1712notout] 05/11/2016 08:09

Eni
Tigon
👌😇

[hearts1] 04/11/2016 23:33

Trotters trading.

[1712notout] 04/11/2016 23:12

Chevron
BP

[1712notout] 04/11/2016 22:23

Massive buy
😎😎😎😎8526;😱ԅ61;😱😱;😇😇😇😶
28566;😶

[lardner23] 04/11/2016 22:06

Looks like England could be 'standing there unpaid' in India :-(

[phillis] 04/11/2016 22:03

Drip drip
😰

[mr roper] 04/11/2016 21:27

Strange how everyone on the bb can put a $ barrel value on what we've been paid but the company struggle to do so..

[1712notout] 04/11/2016 21:17

Massive buy
😎😎😎😎8526;😴ԅ61;😱😱;

[1712notout] 04/11/2016 21:17

Massive buy
😎😎😎😎8526;😴ԅ61;😱😱;

[ohdearohdearohdear] 04/11/2016 21:06

Helx on LSE is Lardner.

Fact. I know.

Bag of vipers.

[terry hardacre] 04/11/2016 21:00

@nadhimzahawi Mr Zahawi, we SEEMED to get off on the wrong foot the other day. You see it was all a silly mistake. You tweeted about a BICYCLE instead of tweeting about how I am THE MOST IMPORTANT PERSON IN THE UNIVERSE. All water under the bridge Mr Zahawi, but don't let us forget: SHAME ON YOU!

[bigdog5] 04/11/2016 20:57

lardner23
4 Nov '16 - 20:33 - 526376 of 526378 0 0

Agreed, BD. In my experience, whilst consolidation should be a neutral process, the few ones I've tracked have not been so.
-----------------

Yup.
Then what will the new funds cost.
And what about the pumps, has anyone ever mentioned why they're required? That's rhetorical, which is why I can say with confidence they're not to dry out the Piddler of Cheshire's leafy stroll strides:-)