As you want to know whats going on why did it take 59 million options to cover 19 million shares . A maybe the other party now has 40 million buffer to cover the next swap
IF the whole purpose of this play is to get the remaining 9% to get to 20% at a fixed price its not likely the share price is going to deviated a long way either side of the fixed price as the risk of a cost blow out start to accelerate and needs to be made up on the next lot
IF this is to play out over the next 2 1/2 years then the SP is going no where
A good reason not to split the company is it makes it much harder to do this over 2 parts if the original deal with JPM was for AGL as a whole . If the deal was signed after AGL wanted to do the split thats the end of that theory
One reason its harder is there may not be options contracts available over one or both parts . Only about 80 companies on the ASX have options available so the split company may not be viable for options to be issued
Another reason is the two parts could start to trade at different PEs if say the Coal becomes a cash cow and moons so really complicates things
AGL Price at posting:
$8.87 Sentiment: None Disclosure: Held
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