re: hdr will this mean someone wants to make a full offer for HDR now that the blocking stake has been taken out ? or does WPL need the cash to fulfill other high capex requirements and got a good enough offer.
Hi Zinc,
Most likely the former. I can't imagine a company with Woodside production profile having cashflow issue given recent oil price. Most supermajors have some much spare cash that they are doing buybacks left right and centre.
if the sale is completed during the halt period, it will either be instos bookbuild, or off-market transaction of some sort (asset swap, scrip swap, cash sale, etc) with another player who's very desparate to get into Mauritania. BG is very likely since they have indicated several times in the past that they are looking to grow via acquisitions, especially in the West African region. I think someone said yesterday that they had set aside 8 billion pounds for acquisitions. I'll take my share of that! :)
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HDR
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