It's patently absurd to contemplate a takeover at this point in the game (even if one were to emerge, which is highly unlikely). Anything coming out of the woodwork now would be a highly opportunistic, low ball offer, unlikely to come close to representing the inherent value of the company's prospects.
The only reason that an offer of that type would gain any credence is in the event that the company was in dire cash flow constraint, which fortunately it is not.
As others have posted previously, Bob and the other substantial shareholders have more than enough weight to see off any "vultures". We don't need an $8.25 per share offer to bolster the share price, just to keep nervous retail investors calm.
The SP will take care of itself as the Browse resource is firmed up and the potential value of the Sth American leases is unlocked through either the farmin process or the spin off contemplated.
KAR Price at posting:
$7.54 Sentiment: None Disclosure: Held
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