At what price does the bidding begin?
6 replies (most recent on top)
APC doesn't want a fat - debt ridden gas company in OkC. Everyone needs to get over that tired old conspiracy theory/story. Icahn wants to make money. The only way he does is if the stock price goes up - then he can get out. To do that - the AKM ERA DEBT HAS TO BE REDUCED! He has his guys in 2-3 board seats - and they are heavily involved in their investment.
I believe the directors are staging a 3rd quarter rally. They have cut capex to the bare minimum. Might even show positive free cash flow. Rally the stock so Ichan and others can bail. Massive layoffs afterwards. They are NOW putting a pencil to everything. The ship is sinking. They are just trying to find a financial exit for the inner circle.
Too much debt - CHK will tumble to sub $10 then Anadarko will waltz in and take it. It's a Kerr-McGee scenario all over again and Ichan was in on that one also.
Carl Icahn will start the bidding war when stock hits 10-10.50. He is looking for dollar signs not to run a business. Expect a 12-18month span of divide and sell.
No one would want this albatross. CHK will survive but will need to unload some assets and about 2000 people.
- When someone would want an debt laden company in OKC And 2. When another EP company has way more money than smarts.