RE: Faroe takeover offer from DNO26 Nov 2018 09:35
The PoO is low at the moment but was recently at $86 and likely to move up after the OPEC meeting. Faroe SP currently depressed due to oil price dip and also recent duster - this derisory offer is opportunist and should be rejected out of hand. We were at nearly 180p recently and nothing has changed in reality. If the board recommend acceptance of this, they ought to be booted out, but i'm sure they will see this offer, and in particular the opportunistic timing, for what it is. It's a "go away of words to that effect" from me, and I'd bet that this will end up with a final bid of over 200p in a fairly short time.