This is sort of interesting.

Has the consolidation begun?

http://news.yahoo.com/buzz-penn-virginia-corp-rises-170048964.html

** Oil and gas producer's shares rise as much as 19pct to $5.30

** BP offered to buy Penn Virginia for $8/share,financial news website Proactive Investors said, citing sourcesfamiliar with the matter

** Offer represents 80 pct premium to Penn Virginia'sWednesday close

** Penn Virginia rejected the offer and is holding out forat least $10/share, Proactive Investors reports

** Exxon Mobil Corp and Chevron Corp mayalso be interested in Penn Virginia, website says

** More than 11 mln shares traded by 12:45 p.m. ET, abovetheir 25-day moving avg of 3.1 mln

** 9 of 16 brokerages rate the stock "buy" or higher, 7"hold"; their median PT is $8

** Up to Wednesday's close, stock had fallen by more than athird this year

Views: 608

Reply to This

Replies to This Discussion

The whole deal smells like a scam to make money on the stock market. George Soros owns 8% of this stock and he has been involved in shady deals before. 

I like everything about Penn Virginia except George Soros.  They've been an excellent operator... we've had no problems with anything!  And that says a lot considering the trouble "small operators" are going through these days.

The one thing i do see is... hopefully... many companies are looking for nat. gas supplies close to the coast or pipelines to feed the exporters.  

no such offer or rejection occurred, according to The Wall Street Journal.

The takeover talks may have circulated due to documentation of a takeover deal from exactly 13 years earlier between Penn Virginia and BP Capital, The Journal added.

Saw that... thanks.  I like PV... if only george soros would just go away!

RSS

Support GoHaynesvilleShale.com

Not a member? Get our email.

Groups



© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service