WRT the SNE sale to WPL you may recall that COP required to book...

WRT the SNE sale to WPL you may recall that COP required to book some asset sales to their December annual report, in order to satisfy their bankers. This they did with the SNE sale.

Since that time COP has sold their Canadian tar sands asset, for from memory around $13.3B. I believe that time was of the essence for COP to raise some funds, and since then they have brought themselves into a good financial position again.

I think COP relied on the literal approach to the law which is how it is applied in the US. I think the purposive approach as applied in the French system has caught them out.

In any case, COP are now once again in a good financial position, which in my opinion was their main aim.

The FAR mosquito buzzing in their ear will most likely be swatted away with a minimal as possible consideration, as a remedy to FAR rights. Or as Tony postulates will WPL make a takeover bid for FAR? The takeover bid path will likely be cost neutral, whereas the other path would not be.

IMO and DYOR.