I have a feeling with these managed fund companies are taking opportunistic moves to buy assets or companies that are cashed up and undervalued to cash level.
Examples are NEN and KAR as well.
These finance companies will try and do a vote to have themselves as board members and overthrow the existing board members.
They're goal is to control the cash and profit from that.
Cause based on the cash that MPO has, we equate to 25c per share. Makes sense to buy at these levels now and then do a vote. Kick out the board. Have their unqualified people in the petroleum industry on board.
Launch a return of capital, everyone gets 25c per share. Dismember the companies' remaining assets.
Don't fall for their tricks. Do not submit, unless there is a premium on the table. Here we are talking about 30c (5c premium to cash backing).
MPO Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
