A merger would not be at 2 cents as VEN would need to pay a control premium . It would be an all scrip offer if it came and likely be only a little under 1 for 3 given that STX has some potentially valuable assets outside of the Cooper Basin JV . The deal would unleash some synergies and there would be a much clearer growth path than we have at the moment .
The perennial problem with MEL is they only make small capital raises to fund the near term funding requirement and they do it very late . So the fear of the next dilutive capital raise seems to always be hanging over the market and affecting the share price .
I have only pulled this one out of my imagination based on no evidence at all except that they could . How about a Cash Offer from our other JV partner to take them to 50%.
MEL Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
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