a T/O is wildly improbable.... unless it is by WPL or CNE (and why would they?)
Well common sense would dictate that your prognosis works only if WPL & CNE are the only interested parties. A logical conclusion would be that a third party could gain access to the jv via FAR by paying a premium price that makes any preemption unlikely from WPL/CNE which gives this third party a crack at preemption of CNE's stake if/when it is placed on the market.
There are four options for another party to gain access to the JV;
1. FAR T/O
2. CNE T/O
3. FAR preempt CNE sale with third parties cash and then gets taken over.
4. Buy CNE's stake when placed on the market and bid at a significant premium to market value to discourage preemption from partners.
The cheapest option would be a CNE T/O and sell the Nth Sea assets but the Indian Govt dispute makes this option less attractive. Options 1 & 3 result in a T/O FAR. The fact that CNOOC chose to partner FAR and not CNE would indicate that options 1 & 3 are on the table. Option 1 would offer less risk to gaining a seat on the JV as option 3 would probably result in paying a significant premium as would option 4.
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a T/O is wildly improbable.... unless it is by WPL or CNE (and...
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Last
50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
49.5¢ | 50.0¢ | 49.5¢ | $43.20K | 86.49K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 21776 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 94070 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 33702 | 0.495 |
1 | 99999 | 0.490 |
2 | 104597 | 0.485 |
3 | 160000 | 0.480 |
1 | 100000 | 0.475 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 94070 | 2 |
0.510 | 200000 | 2 |
0.515 | 120000 | 2 |
0.520 | 335203 | 4 |
0.525 | 118000 | 2 |
Last trade - 15.57pm 23/08/2024 (20 minute delay) ? |
FAR (ASX) Chart |
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