Is a deal with HZN a crazy idea, too much debt for DLS to take...

Is a deal with HZN a crazy idea, too much debt for DLS to take on with its convertible notes?

Horizon is a profitable company with a solid and growing income stream (secure until Q3 2017, that will cover the convertible notes repayment. What it doesn't have is the finance to fund its massive LNG reserves, and remember that the company gets US$130 million from Osaka as part of the sale price for part of Stanley upon FID for an LNG project (which includes FID on any project in which Osaka Gas is entitled to take its share of LNG in kind on an equity basis utilising the gas from any of the assets). HZN shares have fallen from 34 cents to under 9 cents in the past year - the company is ripe for a deal or takeover.