,CLL was mentioned as a favourible take over .
Some thoughts here from another poster.Is CLL a good candidate for a take over?IMo if they were a oil sands producer only the cards were better placed and of course without so much debt .
I have said and keep saying that UTS was a far better takeover candidate than CLL and I have 6x the number of shares in UTS than CLL so this deal was a big win for me as I get the buyout for the shares purchase and shares in the new company as well. UTS was nice and clean as a target, CLL not so and is not.
1-Massive debt would have to be taken on
2-trans border permission because of the US refinery
3-not just a oilsands but gas and gas is in a low
cycle but was at the peak when they bought Luke
4-it is a small integrated oil and gas company and someone buying it for the oilsands would likely have to see off the other components, Luke and refinery at a discount to market
5-the poison pill
and #5 was put in place when
managements ego was screaming $20.00 per share like PDP only to see both fall flat on their arses. Yes, UTS did fall from +7.00 to where it is now but PDP fell from +$20.00 to .62 a share and CLL fell the same amount as UTS did. Except Roach was able to rescue his company and provide his shareholders with some good news.
