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ShawCor sale will draw big crowd, high price
ShawCor sale will draw big crowd, high price
(Ewan Nicholson/)

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What’s next for ShawCor as sale process comes up short?

Investors who bet on takeovers are about to take it on the chin once again with shares of ShawCor likely to plunge in the wake of a fruitless auction for the company.

With all the fuss around the big deals in the oil patch, the one takeover in Canada that seemed likely to come to fruition without much trouble seemed to be the sale of pipeline supplier ShawCor. However, the company said after markets closed Monday that the sale process wasn’t going well and a deal was now unlikely.