Santos has right of first refusal over CVN's Dorado interest, not visa versa, confirmed to me by AC. This type of agreement usually includes a definition of an offer for sale. A change in ownership of the offeror would normally be included in this definition and that may be triggered by a less than 50% threshold being reached. So it is possible that any unconditional offer for CVN could see Santos exercising its right. Could this be a deterrence for a potential bidder?
CVN Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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