This is a disaster for shareholders. Our current holdings will be diluted to the tune of about 50%. When IOOF purchased MLC the share price crashed from over $5 to less than $3, as IOOF diluted shareholders.
This is a totally different industry, but the principles of dilution still apply. Woodside shareholders will own 52% of the "new" Woodside, whilst BHP shareholders will own 48%.
I've stuck with Woodside for well over a year, even though ESG has changed everything, hoping the dinosaurs that run this company would have the vision to start moving towards a carbon free (or at least carbon reduced) future.
Obviously the exact opposite is true. They are doubling down on oil and gas. BHP is jumping for joy. They have ditched their coal assets, and now they can ditch their dirty oil and gas at a premium. Woodside is the sucker born this minute!
I will be selling as soon as the market opens tomorrow.
This is a disaster for shareholders. Our current holdings will...
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Last
$27.26 |
Change
-0.280(1.02%) |
Mkt cap ! $51.75B | |||
| Open | High | Low | Value | Volume |
| $27.51 | $27.59 | $27.23 | $86.52M | 3.161M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 18025 | $27.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $27.29 | 2418 | 2 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$27.28 |
Change
-0.280 ( 1.09 %) |
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| Open | High | Low | Volume | ||
| $27.52 | $27.59 | $27.23 | 469568 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| WDS (ASX) Chart |