but if WES buys VOC, then your logic would imply that the SP of...

but if WES buys VOC, then your logic would imply that the SP of WES would rescind because VOC is not as valuable as WES ,so then your investment in WES would not be as valuable as it once was, as if you went the other way, which would be to buy VOC now before a possible takeover by WES which would hedge your portfolio of WES, but even if the takeover offer didn't eventuate, your VOC holding should at least tread water.

in other words, if you bought VOC at current SP, then all you are risking is opportunity lost of Capital investment, but you already hold WES, unlike me, who holds neither VOC nor WES.
so my own strategy would be to not hold WES as the SP is already way overpriced, and keep a close eye on VOC for any suspicious activity, and once this occurs, BUY in BIG!

cheers crazypunter