Well this is interesting but quite logical. Who would be serious about doing all the research in preparation for a bid if they knew the other joint venturers had pre-emtion rights?
Maybe this fact will steer Apache towards an IPO? But I really don't know how Apache would value assets they are spinning off and would the joint venturers have a right to pre-empt?
http://books.google.com.au/books?id...empting joint venture sale definition&f=false
