a T/O is wildly improbable.... unless it is by WPL or CNE (and why would they?)
Well common sense would dictate that your prognosis works only if WPL & CNE are the only interested parties. A logical conclusion would be that a third party could gain access to the jv via FAR by paying a premium price that makes any preemption unlikely from WPL/CNE which gives this third party a crack at preemption of CNE's stake if/when it is placed on the market.
There are four options for another party to gain access to the JV;
1. FAR T/O
2. CNE T/O
3. FAR preempt CNE sale with third parties cash and then gets taken over.
4. Buy CNE's stake when placed on the market and bid at a significant premium to market value to discourage preemption from partners.
The cheapest option would be a CNE T/O and sell the Nth Sea assets but the Indian Govt dispute makes this option less attractive. Options 1 & 3 result in a T/O FAR. The fact that CNOOC chose to partner FAR and not CNE would indicate that options 1 & 3 are on the table. Option 1 would offer less risk to gaining a seat on the JV as option 3 would probably result in paying a significant premium as would option 4.
- Forums
- ASX - By Stock
- FAR
- Shorts ?
Shorts ?, page-61
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
(20min delay)
|
|||||
Last
49.0¢ |
Change
0.025(5.38%) |
Mkt cap ! $45.28M |
Open | High | Low | Value | Volume |
47.0¢ | 49.0¢ | 47.0¢ | $7.096K | 14.82K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 50146 | 48.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.0¢ | 17921 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 42046 | 0.485 |
1 | 5000 | 0.480 |
1 | 10000 | 0.475 |
2 | 24999 | 0.470 |
1 | 50000 | 0.465 |
Price($) | Vol. | No. |
---|---|---|
0.490 | 3728 | 1 |
0.500 | 10000 | 1 |
0.505 | 25000 | 1 |
0.510 | 100895 | 2 |
0.520 | 226786 | 4 |
Last trade - 15.58pm 02/10/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |