By Tom Winnifrith | Tuesday 2 February 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Anyone who thinks that Worldview is going to pay more than a nominal amount for Petroceltic (PCI) shares, if indeed it bids at all, needs to read this. A source close to the situation tells me that $60 million of its $220 million of borrowings is now being hawked around the debt markets at just 35 cents in the dollar.