Scott,
The Mysterious Bidder was not related to Oil Industry. As per old dog statement it was The Investment Banker.
The rumour is ("beer talk" at the popular Calgary Sport Bar) that the offer was around 80 cents. I don't know, this could be just a rumour but 80 cents coincides with the CLL share price reaction after the DG broke the news.
Share price jump to 90-94 cents and level off at 80 cents in next 3 days. Remember that proposal was made when the CLL was trading about 40 cents/share which was a 100% premium.
CLL share price stay at 80 cents for the next 3 weeks until DG dismissal moved the price above $1.1
"The proposal was delivered to my office - not surreptitiously but almost - in an unmarked envelope if you will, with a letter from an investment banker, to see if they could buy the company from the bottom of the market," the 67-year-old oilman snorted to the Reuters news agency.
