I hope that's not their tactic, after all COE is in the oil game...

I hope that's not their tactic, after all COE is in the oil game primarily, not share trading. But I doubt it is their motive, it wouldn't be easy to offload many of their IPM shares anyway. Time will reveal whether this is a COE master stroke to pick up an undervalued and well run co. at a crazy low price, or conversely a very badly judged, highly distracting error that damages COE's credibility (even further). My "gut feel" is the bid is stupidly low, impeccibly poorly timed and doomed to fail. I won't be giving up my IPM for more COE scrip, but I wish COE management hadn't decided to kamikaze its own sp by offering up a half-cooked bid. Not a happy COE shareholder.