They're competing with each other to buy up shares. There's no mention in the article of any actual takeover and the article is thin on details. The only O&G takeovers that I'm aware of (names allude me for now) were companies with large cash balances. Aggressive buy backs are the most effective weapon against such take overs as they eliminate the weak hands who would normally sell into vulture funds.
Target $18.72, page-36
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Last
$7.72 |
Change
0.050(0.65%) |
Mkt cap ! $6.458B | |||
| Open | High | Low | Value | Volume |
| $7.71 | $7.74 | $7.66 | $24.20M | 3.139M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 250 | $7.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.72 | 41765 | 6 |
View Market Depth
| Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Last
$7.68 |
Change
0.050 ( 0.69 %) |
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| Open | High | Low | Volume | ||
| $7.71 | $7.74 | $7.66 | 507213 | ||
| Last updated 15.59pm 30/04/2024 ? | |||||
| WHC (ASX) Chart |