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Non-Tech : The Woodshed

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To: ItsAllCyclical who wrote (39596)5/24/2006 1:36:13 AM
From: hubris33  Read Replies (1) of 60903
 
Yeah, another good stock play run aground on the tide of takeover mania. Had this slated for a double from a while back (now area of the lows) but 30% on the beat down price won't get there.

Tremendous deal for NGX...values AZK at 5.0 times 2007E cash flow, well below the 9.7 to 21 x CF AUY says is appropriate when it bought DEZ. AZK shareholders left holding the bag, as AZK addition won't be terribly accretive, just keep the company going until it can get another project developed.

Wondering if there are enough shareholders to block this deal. I looked at the Ann Rpt again but did not see a list of >5% shareholders. Does such a list exist? Do the Canuks require notification of that info too?

H3
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