Exactly the point. If DML rejects $830m from Cathay Fortune, what more do they want?
Firstly I think Cathay is dumb and overpaying for DML, esp. when TGS is better in terms of cash costs and in advanced production compared with DML.
If DML was looking for $1b, I think Cathay should pack their bags and move to take over SFR or PNA, which they are way better options than DML.
If Cathay comes to TGS with $450m, I would strongly accept their offer.
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dml says no to 800 mill bid , page-5
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