I noticed the same thing too. Do _All put Hyduke on the map and claimed to be making an all cash offer whn Hyduke said later on they needed two financial backers. In my Dd I had posted gow hard up they were to even do a small take over of a company in the Dakotas.
I beleive it will be between NBR or MCB for two separate reaons. MCB is in accretive mode and has the 50 M war chest so they can do a deal accretively without diminishing the stock. They recently upped the dividend so cutting that to pay for it would not be a plus. They are both based in Edmonton and Big Mac knows MCB well.
I think the new manufacturing plant in Texas makes it compelling for NBR especially when you look at the drilling boom continuing long term in the USA for years to come.
But Hyduke said there were financial investors stepping to the plate also. Could be a Jimmy Pattison type or a hedge fund with deep pockets and a good contact base in the Americas or Russia.
I also know that RR sold a firm to Noble as well and know from previous conversations that Noble does a fair bit of business with Hyduke also and lately they have donew business with PD also. PD is in a terrible slide now , but they last made the accretive deal at top of cycle, and maybe Neveu needs to do one now to prove hes not the biggest idiot CEO in PD history, which he currently is!!!!!
I see between 1.50 and 1.65 ! N o matter what Q3 is , a take over is not affected by one quarter or two, its for the ten year plan. Do All was over blowing a bad Q3 because they didnt have the pocket change to make a good faith offer so they were looking for excuses.