@Moonshine66,
Predicting M&A outcomes is forecasting the unforecast-able, so I don't try it.
What I will say is that - given BHP's long history of doing many strategically dumb things [*] - I have no problem if a company in which I am a shareholder is a counter-party to BHP in an asset transaction. (In fact, based on precedent BHP transactions, I should probably relish it.)
I also don't mind noting that the Chair of our company, Richard Goyder, is no slouch when it comes to knowing when to pay how much for businesses being acquired.
So while there are a number of things about which to worry oneself when it comes to investing in WPL, the WPL directors behaving like drunken sailors in an M&A situation is not one of them, I don't believe.
[*] And I mean, spectacularly dumb things. And it looks very much to me that BHP's "we desperately want out of oil" body language suggests that there will be very little in a way of valuation expectations on BHP's part in the way it views its exit imperative.
.
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