I dont think ORR bring anything to the table for a JV. PRU have the firepower and will win but SVM will make them pay full value so that they make a good quid for their holders.
The challenge for Fengy at SVM is making the revised offer at a price still in the sweet spot (not too high) so that PRU can counter. If its too high then PRU will just say keep it then and we make a quick dollar.
Game of chicken from here.
Three parties with effectively a blocking stake so they need to work out a deal and do it fast. Dont forget, we have started work onsite so we need to keep moving and not annoy the locals.
ORR Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
