COV - Corvette Resources - Aussie Stock Forums

Results 1 to 4 of 4
  1. #1

    Default COV - Corvette Resources

    We might as well acknowledge Corvette's existence before it disappears, eh?

    CFE, having received 19.99% of COV just recently, have stated they will make an all-scrip takeover offer. There are no details yet on the offer, but surely this must be a guaranteed winner for Corvette shareholders? COV has been rising gently over the past couple of months, so the takeover must surely include a premium.

  2. #2

    Default Re: COV - Corvette Resources

    Or not! The takeover will value COV shares at 14c, which is above today's close, but below yesterday's close. Looks like CFE is aiming for a bargain. However, as most COV shareholders haven't been prepared to sell at 14.5c or 15c cash on-market, a 14c scrip offer seems wildly optimistic to me.

  3. #3

    Default Re: COV - Corvette Resources

    Seems like I'm talking to myself, but, what the hell: COV at 26.5c, up 29% for the day.

    Is nobody else interested?

  4. #4

    Default Re: COV - Corvette Resources

    I have been reading up slightly on these and have more of an interested based on CFE. which I believe as of 14/09/2009 controlled 46.52% of COV..

    Assuming this merger proceeds I would only assume that it can only go ahead with the nod of approval by CFE.. being a majority share holder.
    Now recently CFE applied for a takeover bid for COV would it be in there best interest for the Merge, Diluting there current control on the combined company.

    And also which one do people believe is in the best interest of COV the merger or the take over, or neither..

Similar Threads

  1. HMX - Hammer Metals
    By sandybeachs in forum Stocks I-P
    Replies: 38
    Last Post: 23rd-April-2014, 11:34 AM
  2. Resources Boom - is it really a boom??
    By IGO4IT in forum Commodities
    Replies: 34
    Last Post: 20th-November-2009, 03:59 PM
  3. NGM - NGM Resources
    By chris1983 in forum Stocks I-P
    Replies: 8
    Last Post: 18th-August-2009, 12:29 PM
  4. Tiomin Resources Inc TIO.TO(OTCF: TMIRF)
    By Mackan2 in forum International Markets
    Replies: 6
    Last Post: 30th-July-2008, 07:50 PM
  5. Resources bubble?
    By resourceboom in forum Commodities
    Replies: 2
    Last Post: 1st-May-2007, 12:40 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Aussie Stock Forums