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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (3803)	2/11/1999 10:44:00 AM
From: keith massey	Respond to of 62347

Chief The brokers almost seem to know these thing ahead of time. However I have never seen an all cash takeover below the current ask. Normally there is a premium to the 10 day (or more) closing price. In the case of REL the premium will likely be small. Could they be holding down the stock to lower the cash offer? This still wouldn't explain the lack of support. Best Regards KEITH

To: the Chief who wrote (3803)	2/11/1999 10:47:00 AM
From: mick	Respond to of 62347

What happened to REL ? These guys were one of the darlings of the energy industry. I remember the rumour that they were going to have a loan called back in December and what that did to the price, but I thought they would have recovered. They still have decent cash flow, and I would have thought they would be trading at $ 8 - 10. What am I missing ? Is the debt to high that everyone thinks they can't service it ? Cheers

To: the Chief who wrote (3803)	2/11/1999 10:49:00 AM
From: kingfisher	Read Replies (2) \| Respond to of 62347

On ETN.. Federated take over might be premature but in Canada most take over rumours eventually pan out.I am speculating that Eatons sales of $1.6 billion with 26million shares outstanding makes this company attractive at these levels.Perhaps another suitor in the wings?These shares were issued at $15 last year.New management and a financial retructuring just what ETN needs.Today's volume over 500,000 shares with a range of $6.10 to $6.70.I am in at $6.25 looking to hold until news pans out. Richard

To: the Chief who wrote (3803)	2/11/1999 10:52:00 AM
From: VisionsOfSugarplums	Read Replies (1) \| Respond to of 62347

Hi, folks. Since I own REL, I've been following it. Rumours have abounded on this stock. IR at REL a month ago said various brokerages suggested possible takeover prices: Newcrest $4.50, First Marathon $4.50, Peters $7-$9. Recent rumours in the sector and brokerages have been that REL received three bids, but none of them are great. I looked at NAV using the most recent reserve report ( Oct 30/98), and would put it at $6.50 - $8.00, using current debt (approx. 310 mill) and depending on discount, etc. The bridge financing that REL obtained for an acquisition in August has been extended to April 1 for payment ($60 million), however it has put REL in the position of having no leverage so I am not expecting a good bid. I think if a major takes them over, they have a better chance of getting a price closer to NAV. Re the volume trading when the houses started dumping REL on the false rumour that the bank called the loan - volume was such that there's still a lot a s/h out there that bought over $10.00. Lots of people going to take a hit. Like they say, the market knows. But if you look at the volume of trades that brought the price below $4.00, it's not substantial IMO. Now that the stock is not marginable, it may increase selling pressure. I would say that anything under $3.00 is a buy, if you don't mind waiting a bit. Deadlines for negotiations keep gettting extended, however for a friendly deal the total time that has passed so far in the realm of acquisitions is not that long. However, this is obviously not an Amber. Regards, t.