depends on what they might offer. Based on my quick calculations from Commsec, there's only less than 1.3% of total shares actually up for sale so they couldn't get anywhere near 20% buying on market. They could offer up a huge partnership I guess - 20% of current value for X amount of outlay. Can't see current holders wanting to approve that and see yet another dilution of shares. 7.5B is enough already.
They could also start buying up at these crazy prices, which would lure more sellers...but the price would climb pretty quickly if word got out BP wanted in and were trying to get there on market. Can't see it happening until they see once and for all that at least one of the fingers in the pie is gonna come out tasting like raspberries.
IMU Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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