For long term holders of Connacher there will be no benefit of an attempted takeover at present. If you take today's price of say 0.75 and the 30 day average price per share of Connacher, you might get a 30% premium which would give you around a dollar. Not worth your while.

A buyer would have to take the current market value of Connacher and add on the $600-800 million dollar debt to come up with what Connacher is presently worth. Plus Connacher has a lot of parts to it that a buyer would not want and they would have to spend their time trying to sell off these parts. This is the beauty of Connacher in the strategic way it was put together. Personally I don't see it as a takeover target. It's not on anybody's radar. Connacher was designed to fly under the radar of most medium or large companies until it has Algar up and running and it has approval and is in the process of implimenting it's 22,000 barrels per day of bitumen expansion, say in three or four years from now.

Best Wishes; Scott