They dont seem to be chosing their battles well. They try to...

They dont seem to be chosing their battles well. They try to block a take over that has zero chance of success. And their grounds seem limited.

The real battle would have been the over ruling vote that PPX has over SPS. Maybe eventually they will try that fight. Until then, it doesnt matter how many shares Coastal own, they will never appoint a new RE or ammend the trust constitution.

Coastal will need to do something. Its pointless blocking this unless they themselves are willing to go beyond 20% with a counter take over offer.

Will be interesting what the take over panel rule. Though it seems like nobody is accepting the offer anyway. And more interest in what Coastals next move is.

Still think they need some PPX shares to help their cause.