Auto .. a successful takeover will entirely depend on where IPM...

Auto .. a successful takeover will entirely depend on where IPM share price goes this month.

Lets face it, there is hardly a buying frenzy out there to get IPM shares, less than 30,000 traded for the entire day.
The days preceding trades were 20k, 25k and zero k
A few desperate sellers may well drive it lower, it wouldn't take much based on the amount of (non)BUYING interest out there.
It beats me how people go on and on about the dividends paid...3 cents ... big deal, thats how much they lost yesterday when the price fell 3c for the day
Money in the bank for further acquisitions and working capital would seem a better option.

If COE management are serious about the takeover they will somehow have to "manipulate" the price above 40 cents ... again the selling side is fairly thin so may not take much to get it there this month.

Like I said these are difficult times and the reason I bought more COE on Friday was for the previously stated thoughts that their break up value alone is worth more than the current share price.
I can't see it going down by more than a few cents no matter how bad the market turns.

With good overseas drilling prospects soon they would have to drill 40 dusters in a row before running out of funds.
They couldn't be that incompetent surely.

The global melt down appart I think another factor that got the price to this stage is the dislike of further dilution and IPM 3.1 share sellers driving the price down if succesful. A non event would have a positive impact on the share price and we would be above 50 cents in a flash.

So either way is good