They have last right or refusal on soem projects if my historical understanding is right so in many ways they don't want to inflate the price as they can just take partners share at lowball "merger- takeover" . They may not want other projects hence they don't make a direct bid for either OSH or STO. It is all speculation until they get into each others data room and at this stage that isn't happening.
Majors know exactly what terms of PNG and Alaska agreements are and they probably ahve no nee dto pull trigger on full takeover unless very cheap. They depending on how it is triggered then get benefit of either first right of refusal at eeh bid price valuation of assett . I believ this may be teh reason for wish wash wording of if it is a take ove r, merger , change of control etc as OSH doesn't want certain things triggered in its agreements and operating lic. I am not up to date enough and don't know current detail and nor do most analtysts let alone the " basic " proposal preparers that STO used that looks like a high school project not a billion $ proposal.
OSH Price at posting:
$4.11 Sentiment: None Disclosure: Held
