Open Square Capital @OpenSquareCap

OSC is an asset management firm dedicated to a thematic value-oriented investment approach. https://t.co/Tefz59c3A6 openinsightscap.com United States Joined December 2015

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Tom MacInnis @tommacinnis

12 hours ago

As a MEG shareholder enjoying the swimming pool that is now starting to simmer, a dozen thoughts: 1. If SCR would have shown up with anything close to current offer, they wouldn't be on the outside looking in - Self inflicted wound. 2. MEG board ran process. Process is still…

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Open Square Capital @OpenSquareCap

16 hours ago

Largely agree with this, the dividend is neither here nor there as the stock price will adjust to reflect the distribution. Since it’ll come from debt borrowing, market will also adjust for the lost free cash flow as interest expense tamps it down. Arguably market already has…

Michael Spyker (go Bears) @ShaleTier7

19 hours ago

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Open Square Capital @OpenSquareCap

17 hours ago

$SCR.TO raising the bid to 0.8 shares of SCR to 1 share of $MEG.TO, no cash. $CVE.TO's turn to raise as SCR current bid is 9% higher, at $30.32/sh ($37.90 SCR price now). This will likely be in the form of equity as that portion is too small. Surmise it'll be upped to 0.5 shares…

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Open Square Capital @OpenSquareCap

4 days ago

OPEC+ production increase coming?

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Open Square Capital @OpenSquareCap

4 days ago

$SCR.TO acquires final tranche of $MEG.TO shs, now owns 14.2%, max under CA law. Posturing continues as it faces off $CVE.TO. Both need to raise bids & see what shareholders want, cash vs. stock heavy. $242M breakup fee is par for course at 3% of deal value, it's fringe issue.…

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Meghan Potkins @mpotkins

4 days ago

Strathcona Resources has built a war chest of shares in MEG Energy, the maximum allowed under Canadian takeover rules, the company confirmed Thursday, in a bid to try and block rival Cenovus Energy's blockbuster acquisition deal. financialpost.com/commodities/en… $SCR.TO $MEG.TO $CVE.TO…

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Open Square Capital @OpenSquareCap

6 days ago

Strathcona acquires another 6.66M shares of $MEG.TO at an average price of $28.64. It owns 11.8% now, so another 2.4% to go, give or take 6.2M shares to go to hit the full 14.2%. $SCR.TO $MEG.TO $CVE.TO

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Open Square Capital @OpenSquareCap

a week ago

$MEG.TO, $SCR.TO, $CVE.TO M&A Scoreboard

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Open Square Capital @OpenSquareCap

2 weeks ago

And now it begins. It’s about to get spicy 🌶️ 🔥 in Alberta. Strategic acquisitions mean higher prices and this is strategic for the both of them. $CVE.TO $MEG.TO $SCR.TO

Razor Oil @RazorOil

2 weeks ago

And now it begins. It’s about to get spicy 🌶️ 🔥 in Alberta. Strategic acquisitions mean higher prices and this is strategic for the both of them. $CVE.TO $MEG.TO $SCR.TO

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Open Square Capital @OpenSquareCap

2 weeks ago

$MEG.TO, $SCR.TO, $CVE.TO M&A Scoreboard

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Open Square Capital @OpenSquareCap

3 weeks ago

Of course $MEG BOD accepted the bid, everyone under sun knows it's on par w/market price today, & isn't enough of a premium TODAY, but you can't go into 9/15 w/"no bid." So lock in a 2nd buyer. It's akin to a stalking horse bid. It sets the floor, now the real bidding begins.

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inthemoneypod @inthemoneypod

3 weeks ago

MEG shareholder @ericnuttall (who balked at Strathcona offer) tells me Cenovus offer is "terrible price" and that he thought $MEG.to could get $30/share What happens next?

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Open Square Capital @OpenSquareCap

3 weeks ago

$SCR / $MEG . . . and now $CVE. Don't you just love M&A?? The $CVE bid is a call in poker. It's the price of admission right now. REAL bids come in now. Next up? Who raises first. $SCR with cash or $CVE with a bit of both? Think ball's in $SCR's court.

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HFI Research @HFI_Research

3 weeks ago

So beautiful.

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HFI Research @HFI_Research

3 weeks ago

A picture is worth a thousand words.

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Open Square Capital @OpenSquareCap

4 weeks ago

Updated OECD inventories (latest IEA) vs. oil prices. How will this gap close?

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Open Square Capital @OpenSquareCap

4 weeks ago

$SCR owns 23.4M shares of $MEG, likely with a basis somewhere ~$23/sh, so call it $7-10/sh consolation prize IF it loses out, or $160-240M assuming a counter-bid of $30 and above. Not unlike a break-up fee of 1-2%.

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Open Square Capital @OpenSquareCap

4 weeks ago

Retract yesterday's tweet, $CVE offer even at $30/sh for $MEG is accretive depending on stock/cash mix, if u then get tribal partnership, gets some uplift w/financing, so > accretive per share. Throw in tax benefits, $CVE offer (likely "3" handle) may beat out if we're right.