It seems to me they have tried to pinch it cheap, probably knowing they would not get away with it, then when BG came in they knew they couldn't compete for 70% so they pushed BG up to $8 and let them take 30%. With AOE's 30% (including Shell) they now only have to compete for 40%, and only need 21%.
Buy checking they forced BG to rule off their bid at $8 with a nominal .25c which won't come into play.
They now have set a good price for their own assets and their next bid should be decisive.Probably early this week but I will leave the strategy to them, they have till the 23rd from memory. If BG come back bigger again I think they will inflate the AOE sp and they will take what they get and work from there.
Or I'm just talking through me 'at
Jeff
new announ. take no action bg offer, page-38
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