> http://www.investegate.co.uk/Article.aspx?id=200804020701443743R
http://www.imperialenergy.com
http://www.investegate.co.uk/Article.aspx?id=200807040700042799Y




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img src="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=IEC&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR1&MA=&EMA=&OVER=&IND=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0">
cyril

When is this takeover bid going to be finalised....?.....sp starting to slacken off here !.

if sp falls far enough, it becomes quite a safe buy, there always being the risk that all will fall apart before final signing

That's what I'm afraid of !.

Still dropping......

A bit surprising, imo, but I wonder if some people don't want to wait for the final announcement which would suspend the shares & tie up the money for a while.
Presumably Putin's mates have to agree the deal as well which could be a fly in the ointment?

i banked my profits at 1219, so am now just an interested observer

Also interesting that there is absolutely nothing in the way of reference to IEC on the ONGC website. Bizarre.
All oils down today however, so may be nothing to the sp drop.

On the move again to 1173p.
Am tempted to sell the lot over 1200p. Not worth waiting for the final few pence.

not sure why you held on after sp hit 1200+

Nor am I ! Possibly 'cos I thought there may have been a counter offer which would have pushed the sp closer to the original 1290p estimate.
However, assuming this t/o goes ahead, at least this stock is a good hedge against a falling market. I would proabably have put the money elsewhere & be showing a loss now.

Just read this report OVL's Imperial deal in five weeks: Deora

Newswire18 / New Delhi September 6, 2008, 5:57 IST
Petroleum and Natural Gas Minister Murli Deora today said he hopes ONGC Videsh will conclude the Imperial Energy Corp acquisition deal within four to five weeks
He said that Russian President Dmitry Medvedev has offered to support OVLs bid for Imperial. I recently met the Russian president. He directed his advisor to see and help us. It will be a very good deal for the country and I hope it will be concluded in another four-five weeks, Deora said.

Yep...all gone quiet here !.

no more to report .... it's a done deal

Sp bounces around a bit so a few to be made. Just timing now so that we can take advantage of the approx 1 difference in the current price to the t/o price.

is the t/o still on at around 1215p a share?
if so any one think a good buy now for the t/o offer? or is the offer likeky to dissappear due to the prevailing financial markets?
Alex

I think the t/o was at 1250p wasn't it? Still going ahead as far as I know

yes 12.50 due within 4 wks

just goes to show ..... buying at say 11.00 after the announcement should have been akin to having money in a (safe!) building society ...... 10.00 therefore looks a steal, always assuming the Indians don't back out at the last minute

and against market trend, IEC has lost all yesterday's gain ...... is this just in reaction to cpollapse of Russian stock market, or is the deal now in jeopardy?

There were a few big sells that went through before 11.30 hrs & then the buys started, albeit in small quantities. Maybe people want their cash to cover other positions?
This was always going to be a long drawn out affair, imo, so am happy to hold for the moment.