I set up and managed a data room for a major energy asset sale in the 1990s. There were over 30 interested parties, mostly foreign. The data room was open 12 hours a day, six days a week and on public holidays. It was supposed to be open for six weeks, but such was the interest and competition for the asset, it remained open for six months. The amount of due diligence undertaken by potential bidders was enormous. Don't hold your breath in regard to the LPI/MSB data room, as serious investors will be running the ruler over everything and seeking additional information until they are satisfied they are in a position to make a decision. Patience required.
LPI Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held