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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Open Square Capital @OpenSquareCap

6 hours ago

OPEC+ production increase coming?

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Open Square Capital @OpenSquareCap

7 hours 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

8 hours 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

3 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

6 days ago

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

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Open Square Capital @OpenSquareCap

a week 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

a week 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

2 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

2 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

2 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

3 weeks ago

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

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Open Square Capital @OpenSquareCap

3 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

3 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.

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Open Square Capital @OpenSquareCap

3 weeks ago

Thought $CVE would've sold assets b4 partnering for joint bid, but this may work (co-opting locals to decr NIMBY development risks). $MEG.TO still in play, and $SCR.TO will likely raise its offer at some point b4 this is over. Doubt $CVE's offer will blow out all suitors.

Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl

3 weeks ago

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Jon Costello @Jon_Costello_

4 weeks ago

Suncor’s transformation under Rich Kruger is worthy of an HBS case study. The company’s outstanding Q2 highlights its strengths and potential as a long-term investment. $SU.TO hfir-ideas.com/p/idea-suncor-…

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Open Square Capital @OpenSquareCap

a month ago

$FANG's comments on US oil produx'n likely peaked in near term getting attn. Con-call adds details; b/c of how DSU, drill pads, & wells completed these days, it's a ~12 month cycle time. Close to what we see in charts, rigs drop off, growth flattens. Takes time, but will come.