re: counter bid has to come Good point abuman.
If a boring old manufacturing company was coasting downhill to ruin - this type of structured deal would be good.
For a company with the possibility of really good news occuring all the time - it is hard to understand - because the board is creating massive conflicts of interest for itself.
Suppose Potter and Carroll have or are offered a really good deal for Guyanne - what do they do with it>
Do they let it slide so it does not interfere with the Rullow transaction - or do they go ahead and put extra value on Hardman shares.
Given the way things are, I am not confident of what they would do - and where their true loyalties lie.
This is a very niave board that would allow themselves to be in such a difficult position.
This punter does not believe that the current Hardman board is now acting in anyone's interest but Tullow's. Look at their shareholdings - not much - their t*esticl*es are NOT on the line there.
If Tullow and Hardman decide that on current data Uganda is now 60 mbo in place P50 wise - will we be told? Hey - is that a pig flying over there? Insider trading anyone?
If Hardman can finalize a good deal for Guyanne - or will they send it back to the lawyers for clarification of the distribution of how the biscuits are to be funded? Hey - is that a pig flying over there? Insider trading anyone?
How can sensible people running a company in a fast moving news rich market enter into such a studid transaction?
I would like a statement from this board that they will all resign if this transaction does not proceed - they are a disgrace - starting with the Chairman - Bob Carroll - and followed by Simon Potter.
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