Phillip's PE squared conundrum, page-23

"Who says, that WPL wasn't in discussions with CNE and FAR months ago and that what is expiring now is the result of the plans discussed, which is:
WPL buys COP on the cheap, to get in.
Then Far and CNE deal with them in return according to what was agreed to. PE2"

Soj88,

No sure if the above is what we would want to wish for.. because FAR and CNE then basically committed to a "fixed end price" what they might well consider to be "fair value" with, most likely a caveat on it not to entertain outside interests from the likes of Total and Exxon who may decide to enter the fray at much higher values....Is this perhaps what gave rise to the rumoured "legal glitch"?.. just more speculation.
But yes, the first part of the above is very likely.. it's been touted on here a few times.... Taking it a bit further... so too does the second part BUT , if there was prior discussion/negotiation/collusion, did they cater for the likes of an Exxon or Total?? one would have to assume so because that would be the main reason for engaging in such type negotiations in first instance... to get WPL in and shut all others out... to outsmart the Exxons and Totals....
So maybe the "legal glitch", while it could mean many many things, it could, for example, be the case where WPL was of understanding that neither CNE or FAR will be allowed to shop around or talk with other interested parties ( like Exxon or Total).. which is fine... but what about an unsolicited T/O... and whether the parties omitted to provide WPL with a "further" pre-emptive right should such offer come in?? Some did mention technical, complicated, with a spice of boudaries-pushing... and I'd imagine a few more adjectives.

All to be revealed soon.. I hope.
AIMO