Ann: Takeover Offer for Warrego, page-215

You make some good points but you neglect to mention that Strike has a 30% share and can just sit on their hands for as long as they want until they decide to sell. Gina can’t force them to do anything and if Strike want to they can drag out the development of the JVs field and prioritise their other tenements.

Gina may have plenty of money, but Strike are holding quite a few good cards which could frustrate Hancock. Of course, Strike could just be playing hard to get and may do a deal to spin off their share of the JV and WGO shares for a substantially better number which could provide the capital to develop the rest of their holdings which might be a clever move.

Plenty of moves in this game of chess imo. Most will benefit Strike it seems but also none seem that definite.