Share
3,936 Posts.
lightbulb Created with Sketch. 27
clock Created with Sketch.
12/04/18
00:07
Share
Originally posted by Accumul8r
↑
1) ENN not prepared to sell it's shares for cash. (below from the SMH)
2) What valuation has Harbour calculated for STO internally versus what they have offered? You can guarantee that their bid is not overs.
"Santos is an important part of the company's long-term strategy for clean energy. At present, there is no intention to sell shares in exchange for cash ," ENN said in a company statement on the Shanghai exchange.
A source close to Santos said ENN’s eagerness to retain exposure to Santos’s assets is the same reasoning behind Harbour’s approach.
"Santos in an extremely strong position and its value continues to rise, that’s the potential that Harbour sees," they said.
Should this come to a shareholder vote it's going to be an interesting battle of those who got in at the $2's & $3's versus those with an average entry above the offer price.
As a long-term holder with an average entry just above this offer price and having ridden out the lows I personally do not feel like giving1 my stock away, especially when the largest shareholder is not prepared to do so.
Expand
I am sure chinese are playing the game.
If Harbor offered them $10 a share they would take it in a heart beat.
But with oil price rising it would put impetus on Harbor to rap it up quick. Before window of opportunity closes.
$7-8 pay early and get it done.
Then wait 2 years oil starts flying to 80-100 a barrel. Then relist company for double and ride off into sunset.