Sdx Energy Takeover Rumours (SDX)

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Sdx Energy Takeover Forum Posts

MR was there and probably done a PW on them and spun a yarn with timescales. Good news is that they have not sold any shares so hopefully they are just sitting on their hands & waiting for SD and the future drilling. Remember they have a lot more info than ourselves!! Bad scenario is they increase to 30% then look for the takeover. 50% of the 70% is only 35% (of current)which would be obtainable i recon. Was involved in both IAE & FMP and found that when somebody is intent in the takeover it happens. The FPM article highlighted how well the Board done out of the Delek deal even if they didn't want it. Although i am now getting into if/buts/maybes so i will now stop.
"The deal requires that holders of more than 50 percent of shares not held by Delek accept the offer." If that would apply in the case of SDX and it's Waha looking to buy out then they'll need another 40% (50% of 80% remaining shares is 40%) of outstanding shares to vote along with them. If Waha don't want it but and want to sell the company as they in affect control the company then any suitor would simply need 50% to vote in favour of any takeover offer recommended to shareholders by the board. Doesn't make sense for Waha to sell like this though as they could have just dumped earlier at a higher price than today.
If this is up for sale you have to believe that the offered price will need to be multiples of the current. I believe a takeover offer has to have 66% shareholders approval and there are a lot of very large shareholders miles underwater. If it is up for sale, it's Waha who are orchestrating that and they will now be underwater. They only control 19% of the company Ingalls and Synder control another 18% or so. Even if they are both in favour there's still another 27% of shares to vote in favour.
What is the rule about takeover offer pricing? It has to come at a level that is the same or higher than some kind of average price over a certain time frame. I wonder what that price is at right now...
orinocor assets are questionable? which assets the ones that are generating profit? we all know what is happening here, they delisted from tsx as the rules are lax in aim, cheap takeover is coming... IMHO
JungmanaAt 18p mkt cap 37m..At 15p mkt cap 30mRidiculous valuation, its being deliberately manipulated. ImhoTakeover offer might be coming in. Tsx is more regulated probably couldnt get away with it. Aim is shite.. Lets see...
there comes a time when you say this is ridiculous, yes the SD gas has been delayed, yes they failed to increase gas sales in Morocco but this company is still debt free has over $10m in the bank, and generating cashflow around $3.5m per month, over 45m per annum. 37m mkt cap, i think a takeover offer is coming around $70m. This will be cheap... Nobody can predict the bottom but its getting ridiculous now. UKOG and BLOE has larger mkt cap..
I bt 100K at 19.75p at open. Looks possible takeover target down here?
Dragon Oil is reported to have paid around $600million for the BP assets in Egypt that were the subject of a failed reverse takeover between BP and SDX. Could it be that if SD comes in good, then with a market cap of only $50m SDX could be a takeover target for DGO?
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