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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: the Chief who wrote (3797)2/11/1999 10:22:00 AM
From: keith massey  Read Replies (3) of 62347
 
Anyone still following REL. Along with many people of this thread I road the stock up through the last buyout rumor. It is now crashed to $2.80. Two days ago the company put of this news release.

The company has agreed to exclusively negotiate for a period ending Feb. 25, 1999 with a substantial oil and gas producer to enter into a business combination by way of a cash takeover bid for all of the shares of Remington.

The last set of rumors a few months ago put the take-over price at $7-8. I don't own any yet but I find it hard to believe that a company will now do a cash offer below $2.80.

Am I missing something here?
Comments?

Note: I placed an order with Webbroker 7 minutes ago. The sell still hasn't hit the boards and the clock is running. Good thing it is a slow moving stock.

Best Regards
KEITH
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