# Pacific rubiales



## AMABILE (Apr 3, 2009)

why is it trading at $6.30ish, when the take over bid is $6.50?
do you think there will be a higher offer of $7.00 to $7.50


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## Toronto.gal (Jan 8, 2010)

^ I see $6.32 - up 2.60% as of this second.

Edit: I just realized you meant to write $6.30 and not $16.30.

If you're on the + side, I wouldn't over-think it too much.


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## yyz (Aug 11, 2013)

If the market thought there was a higher bid coming it would probably be trading above $6.50.It's close to the offer which the market assumption is the deal will probably go through.


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## AMABILE (Apr 3, 2009)

should i vote for or against the $6.50 offer ?


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## nobleea (Oct 11, 2013)

AMABILE said:


> should i vote for or against the $6.50 offer ?


Since there is 3 weeks to go til the vote and the stock is a full 15% lower than the buyout price, the market is saying the vote will be no and there is no suitor waiting in the shadows to offer a higher amount. O'hara have been harping about how it undervalues the company (they own 19%), but either they put up or shut up.

If I was a shareholder (which I'm not), I'd probably vote yes.

A gambler might pick up some July call options.


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## AMABILE (Apr 3, 2009)

I'm being inundated with calls from both sides to accept / reject the offer.
I don't know what to do.
If I do nothing, it means that I reject the offer.


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## nobleea (Oct 11, 2013)

AMABILE said:


> I'm being inundated with calls from both sides to accept / reject the offer.
> I don't know what to do.
> If I do nothing, it means that I reject the offer.


Well they extended the offer until the end of July (today would have been the last day to vote). One might guess that Alfa will sweeten the bid a bit over the next couple of weeks to try and bring the No side over. Maybe 7.75-8/sh?

Interesting takeover for sure. I bought back in late last week at 4.62.


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## nobleea (Oct 11, 2013)

Deal has been called off. Be interesting to see what happens now. Price will probably go down. Board should get turfed. Another suitor? who knows. Maybe it's just a bluff tactic to scare Ohara in to some sense.


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## Nerd Investor (Nov 3, 2015)

Thought I'd bump and see if anyone else is holding this? It hit a new 52 week low today, I just added to my position. 
This stock has gotten absolutely crushed, it's trading at an absurd price/book of 0.6 right now.


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## Nerd Investor (Nov 3, 2015)

Pretty interesting times if anyone else is still holding this one. It touched down to a new low of $0.99 on Monday and has climbed back up in the last two days before shooting up an absurd 68% this morning. It's now frozen at $2.90 as IIROC has halted trading pending some news. Hopefully some kind of nice buyout announcement that will drive price even higher once the freeze is lifted.


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