Its not too hard to reason that parties involved in Farm in discussions for Brazil will also be weighing up whether to take over KAR in its entirety as another means of getting hold of the Brazil assets.
We know that KAR ideally want to hang on to a fair chunk of Brazil - say 30% (or more). This would give 35% to the party farming in (with the remaining 35% held by Pacific Rubiales). A major player looking to farm in may not be satisfied with 35%, but could get the whole 65% currently held by KAR if it were to take KAR over in its entirety.
At the risk of mentioning shorts, it can be seen that the cumulative short position has been increasing notwithstanding the upwards price action. Query whether this is indicative of an attempt to suppress the KAR share price by parties contemplating a t/o once KAR receives its cash from Origin?
Seems a distinct possibility to me.
Takeover vs Farm Out
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Last
$1.65 |
Change
0.035(2.17%) |
Mkt cap ! $1.281B | |||
| Open | High | Low | Value | Volume |
| $1.68 | $1.69 | $1.63 | $12.23M | 7.389M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 228084 | $1.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 78806 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| KAR (ASX) Chart |