kummerjels1•14 hours agoFlag
Merger Announcement Monday???
The thought I've had today is simple. Usually with "confidentiality" provisions of a contract, parties are not allowed to "confirm" a story like today's reporting of a partnership between Shell and IOC. Neither party would be permitted to confirm the story - although both would be at liberty to "deny" the story. Also, isn't Shell the one that has been accused of shorting IOC in the past? If there were no legs to the story, and Shell was a short, then a simple press release from Shell that said, "Not true," would have crushed IOC today.
Most mergers are announced on Mondays. Could there be an formal announcement or confirmation coming on Monday? I don't know. But, I believe "longs" will sleep better this weekend then "shorts."
Disclosure: I'm long 3000 shares, and am hoping for more good news soon. I have been disappointed with the stocks performance these past few weeks, but as an attorney, I also understand why the silence, and the time it truly takes. The "advisement" that was given on February 28th, that 30 to 60 days would be needed is not unreasonable given the nature of the contractual agreement being finalized.
That's my 2 cents worth. Hoping for a follow up on Monday. Go IOC.