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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Graham who wrote (5716)12/12/1998 8:56:00 PM
From: Lorne Larson  Read Replies (1) of 24927
 
Graham

Blue Range will continue to trade. As I understand it only 65% of the Blue Range shareholders tendered to the Big Bear offer. This is not enough for Big Bear to use the Corporations Act to require that the remaining shareholders also tender (I believe they need 90% for this).

I assume that Big Bear will extend its offer, so that you should have no difficulty tendering. Also at some point, say in 6 months, Big Bear will likely make a fresh offer to acquire the remaining shares.

One of the difficulties with Blue Range is going to be that even though it will continue to trade, its liquid float is substantially reduced in that 65% of the shares will no longer trade. Will likely mean larger spreads between the bid and ask.

Regards

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