If I had to throw up a theory....they waited until the really obvious alternative bidder (Santos) was firmly in the process of its Oil Search acquisition, so they really couldn't act.
I seem to recall Beach Energy stating a while back that they were laying low and not on the acquisition radar?
Personally, I think if a bid came in when STO were not tying things up with OSH, we would have certainly seen a bid. I don't htink it was coincidence this bid occurred when it did.
Certainly helped them that we have a weak board.
SXY Price at posting:
$4.59 Sentiment: Hold Disclosure: Held
