dml says no to 800 mill bid , page-5

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.