SANTOS do give the impression from their press releases that this is not going smoothly. If it ends up that they pull their bid ofcourse we should expect the shares to drop, but they may not fall below the trading range now established.
The market is now clearly aware of the valuation methods and takeover premiums for these CSM plays and it would not be unreasonable to expect that t/o premiums in this industry to rise into the future given market forces and political pressure for 'clean' energy.
QGC appear to appear a step ahead of the game with their current strategy and as a holder right now I am more than happy to sit back and watch Cottee and his team perform beyond expectations.
Good luck to all holders.
QGC
queensland gas company limited
