Just picked this up from the AFR...

Just picked this up from the AFR
http://www.copyright link/business/...ed-to-increase-oil-search-bid-20151002-gk02sg

A number of things emerge from this article
a. PC is not planning to increase the bid either by cash or equity. Making the comment that he is very conscience of the impact ion WPL shareholders of an increased bid.
b. The two graphs tell a very interesting story
c. The comments about the major shareholders wanting to talk is interesting - (maybe needs to be taken with a grain of salt)
d. PC is protecting his cash on the balance sheet like a mother protects her first baby,
e. The WPL bid is already higher than OSH shares are trading at Friday's close.
f. PC believes that there are few, (read none) other companies that have the cash on the balance sheet to provide a counter bid.
g. The sovereign risk issue that Szaba talks about is a huge negative to this deal - and has still not been addressed.

I am glad that PC has not increased the bid - that is good news.

HT1