True, they are securing a portion cheap, they still need to acquire the rest, if Busy Bees offers more they still get a profit, but they have obtained as much as possible as cheap as possible. And they wouldn't want to get stuck with 20% equity then tank the price if other majors are not ready to sell for the price on the table given they want 100%. So while it is helpful doesn't take other offers off the table, just makes it more advantageous for them. Also if you have read the most recent market announcement they can come up given all the pipeline centers and the existing EBITDA. Notice all recent announcements as good as they are add more value to the price so doubt it would trade their.
TNK Price at posting:
$1.69 Sentiment: Hold Disclosure: Held
