You first said VPE wasn't involved and questioned why they would buy ITC shares. They have now and yet you still are adamant they won;t go any further. There is no logical reason other than a takeover or do you not just see that. Whether they are successful is another thing.
They have all the resources they need with BG Group on their side. Cash and script remembering that ITC have 11 mill in the bank and so their side of the deal is still funded. All scrip bid. The have 10% of the company already very cheap (5-6 Mil)
There are many likely scenarios. You need to accept that JK doesn;t want the CSG. I think once they secure the fairway the CSG assets will go up for sale if not already.
We could see VPE take out ITC and then split from the CSG assets into 2 groups with holders getting shares in both entities.
We could see a straight takeover purely cos they know there is 20mbo there for the taking.
We could see VPE fail due to a 3rd party and then just make some money on the transaction or just fail outright and just become a holder. They have too many shares to offload on market now until the program starts so is very unlikely.
Mljet - just cos Eddie wants cash it doesn;t mean that he will get it. VPE if they are desperate enough will do what they want not what ITC wants and if the price is right ITC will go but it will have to be good.
ITC Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
