I am gob smacked by the sell-off after the announcement last week. Notwithstanding the fact the market has been crunched in the meantime I have never seen such good news so poorly received.
Has anyone seen any new analysis since the announcement? The way I see it the deal came in significantly over the expectations management had prior to the sales process (around $500m) as the total cash consideration gives a look through valuation of about $510m plus HZN retains part of the upside in the liquids business. You need to discount the $130m at some rate but given the partner is a major LNG company I wouldn't be doing that at much more than my risk free rate.
Does anyone else have any further insight?
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Mkt cap ! $316.9M |
Open | High | Low | Value | Volume |
20.0¢ | 20.0¢ | 19.0¢ | $407.2K | 2.089M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
35 | 2356142 | 19.0¢ |
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Price($) | Vol. | No. |
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19.5¢ | 739480 | 7 |
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No. | Vol. | Price($) |
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30 | 2273285 | 0.190 |
55 | 3041203 | 0.185 |
36 | 1555702 | 0.180 |
8 | 166392 | 0.175 |
5 | 172308 | 0.170 |
Price($) | Vol. | No. |
---|---|---|
0.195 | 723992 | 4 |
0.200 | 1596670 | 17 |
0.205 | 1220078 | 17 |
0.210 | 1051650 | 7 |
0.215 | 300000 | 2 |
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