While it is a win for many of us (who bought in at low price), the offer price is below what many may have bought in before (the oil price dip). Well, conditions have changed and what can you do.
However, as clearly indicated by Harbour, STO has the future energy which is gas/LNG. Today, if Harbour wanted to build GLNG, it costs similar and that would be $8b for STO's share. Then the PNGLNG, Darwin's LNG plant.. The plants themselves (already used, being depreciated, written down, I know all that) still represent good monetary value and timing value. The takeover price has just reflects those asset, imo. We have the gas and oil too. I hope we will have a counter bid but unlikely from the Chinese as they can be part of the new private co.
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