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Article: North Coast Should Easily Land a Buyer.(North Coast Energy Inc. will be attractive to potential buyers)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- May 5, 2003
- Author:
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North Coast Energy Inc. has called on Robert W. Baird & Co. to explore strategic alternatives for the $110 million market cap oil-and-gas company, including a sale. And an analyst tracking the company did not expect a long stay on the auction block.
Alexander Montano, an equity analyst with C.K. Cooper & Co., said the company's asset base and natural gas reserves make for an attractive combination for potential buyers. C.K. Cooper has a "Hold" rating on the company, as North Coast's stock has been trading near its full value, said Montano. He said the company could fetch a takeout price of $7 to $7.50 a share, or $107 million to $115 million.
Twinsburg, ...