I share almost all of your views. But the MIN move was hostile to Ginas goals.
If MIN would have increased its own holding in WGO - lets say - to just 18.5% before accepting her offer, Hancock would have left shortly below 50% of WGO and Hancock would have been in the position to accept the STX share swap offer until Feb 14th. Hancock would have ended with a strategic position of about 20% of the combined WGO/STX merged company...
But with MINs move Hancock ended-up with a non-operated position and a 50% stake in the West Erregulla gas field and without any direct control about the future development of this asset. I don't believe this was the goal of Gina or Hancock...
MIN tipped Hancocks share in WGO over 50% and therefore triggered the automatic extension of their offer for another 14 days. That was no coincidence...
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