an initial bid may come in sub $2 but management will dismiss it - they have been beavering away furiously to give as many options as possible for their gas to it appeals to multiple parties.
i would think management would entertain $2.50 but it could go higher - watch this space.
if santos have not come out by monday and said "we are not interested, it means game on" if they were not interested, they would not want the lag on their share price that a bid could cause.
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