recoop interesting post. EL response is very logical,we would...

recoop

interesting post. EL response is very logical,we would respond the same way if someone was bidding for cooper at 55cents.

You make some very good points.
- Coopers exploration is valued at negative 8 cents so why would one expect IPMs exploration value to be included. Another point to consider is IPMs current broker valuations come in at around 1.60 about 27% above bid
Coopers broker valuations come in at about 91 over 110% above cuurent price.

The point IPM shareholders are missing is COE is as undervalued by as much if not more than IPM pre bid.

Also one would think that 132 is an inflated and attractive SP in the current market. THe fact that it isworth more is irrelevant, which junior oil company isnt, CVN, OEX, SAE, BPT, AMU, NZO, NXS etc etc Starting IPM at 132 and cooper at 42 I know which one I would think would have a greater chance of moving up 40-50% over the next few months and its not IPM.

I think many of the good old takeover arguments dont fly for two reasons, the way this market values stocks, and because the biding companies SP is also very undervalued making the true value of the offer much higher.

In my view the downside risk of not accepting is a little more than the upside risk of getting more,and I think this is how some institutions will see it. Despite what people may think they only care about ST relative returns, and I think a price not much above this one would get cooper to majority ownership if not full control. One has to ask if the bid undervalues IPM by so much why would a major shareholder already agree to handing over their shares