By Arie Shapira
Feb. 21 (Bloomberg) -- Analysts tell Bloomberg First Word
they are skeptical on Daily Mail report of Teck Resources $85-
shr cash offer for InterOil (implies 54% premium to yday close).
* IOC up 3.4% pre-mkt, had traded up as much as 6.1%; short
interest 16% of float, according to Markit
* Raymond James’s Pavel Molchanov: Questions whether TCK would
be most logical buyer fundamentally given diversified focus;
Daily Mail has “decidedly mixed, tabloid-lite reputation,”
all such speculation needs to be “taken with a grain of
salt”
* Rates IOC outperform, PT $100
* Bernstein’s Ignace Proot: “Generally skeptical” on
speculation, would be surprised if TCK changes perspective
from bringing mining expertise to oil sands projects vs
IOC’s focus on pure drilling; says IOC’s area of activity is
remote, in more risky areas, “which TCK tries to avoid”
* Rates TCK market perform
* Clarkson Capital’s Jeremy Sussman: TCK is acquisitive given
large cash balance; notes co. has been linked to NA/SA
copper, iron ore assets in the past, “which fits more
naturally than IOC”
* Rates TCK market perform
* NOTE: TCK presents at BMO Global Metals & Mining Conf. Feb.
25
