"R.Scott and co. are very intelligent, analytical and ruthless commercial operators, and hardly whimsical when it comes to parting with money."
Given the details and scope of this proposal are still pending, on what basis do you think the WES board is able to form a definitive commercial view on this matter, when the rest of Australians are unable to do so, pending release of the details closer to the time?
That WES directors have adopted a totally preemptive position is, by definition, lacking in analytical and commercial ruthlessness.
In fact, adopting a definitive position without a full-information set, is objectively rather whimsical and is frankly, commercially and tactically naive, compared to the alternatives; for example, reserving judgment pending the release of full details (which are after all, not too far off from becoming available in the public domain).
That would still offer the Board ample opportunity to support whatever position it believes is in the best interests of stakeholders, but without the negative goodwill that is clearly being generated today by its preemptive position based on a less-than-fully-informed basis.
Reads like rookie error to me.
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