The reality check has finally hit home. There are (nor are there...

The reality check has finally hit home. There are (nor are there likely to be) any other bidders, the IER shows Arrows bid at the high end of their range and exploratory work is virtually at a standstill. Management are now downplaying BOW's prospects and so the offer almost seems too good to be true if you read between the lines in the scheme booklet.
With the power station running at a loss, a projected $1 billion expenditure to go it alone you may wonder what is in it for Arrow. My guess is it has more to do with Arrow having access to a highly qualified and capable staffing pool than just about anything else. Although I haven't read the IER in detail I'd suggest the dollar value of this resource would not feature strongly and yet it will be worth plenty to Arrow. So, have we been duped. Some will say yes but for those of us who have been long term holders we'll book a tidy profit but probably not as much as we'd hoped for. That's life in the the markets.