I am a little confused regarding the continuous talk of takeover.
It certainly gives a certain appeal to EQN however as I understand it I doubt there will ever be a takeover of this fantastic company. Please correct me if I am wrong.
The company, as of Feb 2006 has in place a shareholder rights plan.
Given the nature of this plan and that the majority see eqn as severely undervalued. Why would any one make a bid? In my opinion it would not be accepted.
As Jo Jo has pointed out what we have here is the tip of the iceberg with new ground hopefully offering the same levels of copper as what we have now.
Any entity looking at EQN with a view to a takeover would know the poison pill clause exists and simply not waste their time imo.
Working on my logic it would have to be a large offer. Then what constitutes a large offer? Some say double the current price?. I very much doubt that management would be interested in this as again there is so much unlocked potential.
What about triple the current price? I cant see this sort of offer ever being made (not in 2010 and probably not in 2011 either).
What do you think management would let it go for per share in 2010?
Just my thoughts and I am interested in yours.
Am I on track here?
I am a long long term and fairly large holder of this stock and am very interested in anyones views.
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