OK, before tipping in on this one, two points:is this conjecture...

OK, before tipping in on this one, two points:

• is this conjecture or have you seen something? If the latter, please provide source.


• there are a couple of valuation threads on this site from the past few quarters that would still be relevant.

Anyways, on with the show. Assuming the Euro-centric world doesn't cave overnight...

Suggest a start point would be a 30% premium to 50sma and no counter-offer (ie similar to Sundance), so around 57c per share (again, similar to Sundance!).

But there's a major difference - TGS is producing and has free cash. Unlike SDL there's no need to spend billions on infrastructure to strip'n'ship product to a port. But that's something a Board would have to remind a suitor of - they wouldn't just gift it in an initial offer.

Personally... I bought at 8c, and I would love TGS to be another 10-bagger. But we'll only see that under M&A if there's at least two bidders.

DISCLOSURE: I hold both TGS and SDL. They're about half my portfolio.