Mike,
In my opinion, there will be no PE for this BP/CNE deal even if it does go ahead, as the price will be a lot higher than the 2.20 (alleged price by WPL) I am sure FAR wanted to PE the WPL deal only because of the low price. Also even if WPL wanted to, I don't think they are eligible. Of course from WPL's point of view, this makes it even more urgent that the PE arbitration be settled quickly or mad to go away. ATM for WPL, the only way is to open the safe, but then WPL is not known to be generous, ex OSH.
KKW
Malcy Not giving up on BP, page-131
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