Did some digging:
Puma energy is headquarted in switzerland, is in 29 countries in south America, west africa, south africa. 1,100 retail stations. Its a subsidiary of Trifugura one of the largest commodity traders in the world.
Puma energy has been on an acquisition trial last few year. To note. acquired 50% of BP in Tanzania last year, Also BP operations in tanzania. Its in the news section of their website. From what i gathered its similar to what KK has been doing. The company is involved in supply, storage and transportation.
There are several ways to fund takeovers. One of them is debt instruments like bonds or loans.
The highest ratio in takeovers is usually 80%, ie the acquiring company pays 20% out of pocket.
This is where it gets interesting.
At 20% the buy out would be at 17.55
At 30% ' "" " "" "" 19.00
at 40% " " " " " 20.00
The investor's chief problem - and even his worst enemy - is likely to be himself