Thank you for your thoughts, I was trying to image the scenarios left at play here. I couldn't really think anything other than what you've outline above.
The
hardball strategy from UAC was clear from the outset, leading me to believe scenarios 1 and 3 to be extremely likely to occur. Scenario 2 is only favourable to Iberdrola, but how much time would it take to transfer the value to another entity? Would "Australia" allow the value transfer to even occur? Not sure to be honest.
Iberdrola thought they had this TO in the bag before UAC showed up with their bid. I'm very eager to know what will happened here on end. I was convinced it was going to close tonight, but this extension makes things somewhat interesting.
I'm one of the few minority shareholders "still standing"....for now
(20min delay)