My best guess is an all scrip TO offer from Min with Hancock free to buy on market for those STX holders that want cash . Once between the two of them they have majority control then Hancock Accepts the Min offer . Worse things could happen as both MIN and Hancock have financial capacity and proven ability to build businesses. They would control enough gas to assure the needs of their mining businesses and have enough for Haber and domestic supply too . Hancock could end up a big holder in MIN that has been and should continue to be a business with high growth . Hancock has a lot of capital it needs to find a good home for . I really don’t understand the relentless demonisation of GR .She has proven herself to be a great business person who invests in Australia unlike our Super Funds and is a builder of businesses and not just out for speculative gains . CE has similar traits .
Nothing they have done in the TO of WGO has been illegal and I think the TO price was in the end fair . It has all been just business . Certainly there are rivalries and ego’s involved in such competitive personalities but at the end of the day business is what it is about .
STX is the beneficiary very much through their actions . They are a much stronger business than before they got the ball rolling . Will there be a second act to the consolidation of the gas resources . Who knows but I think there will be . I wonder who else is watching .
WGO Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
