"for all the talk that JC has his own interest at heart this deal and the future of AZZ is far bigger than him there have been many larger companies fail despite the best efforts/intentions of their CEO"
Agree wholeheartedly. A few of us have made this point about JC's motivations not because it solves all problems for AZZ but because we think it is a factor to consider. Would Fortiscue have lasted this long if it wasn't driven by Forrest?
Another factor to consider which is but a golden ticket is the recent history of asset sales in the area.
You may well be right about the deal. However, 'no deal in a a buyer's market for oil assets' may be trumped by specific factors in the Permian. The fact is that no one is 100% clear whether these leases are considered a good deal for the current buyers at this price at low oil prices. You might think not, and there are reasons to support you but there are also counter arguments.
I think there is still a reasonable chance that the game is not up yet.
We'll see next week, if I'm wrong I'm happy to take it on the chin.
Cheers
pb
AZZ Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
