Opportunistic bid, go buy STO or someone else who "needs" the...

Opportunistic bid, go buy STO or someone else who "needs" the cash, but thanks for alerting the market to what you (WPL) perceive to be hugely underpriced value in the current mispriced oil environment., otherwise why would you even bother to launch a bid?

Because you know oil prices are artificially low and what a great way to to show positive shareholder returns for WPL by absorbing a great company to enhance your own balance sheet and declining wells, by buying a well run company!!!

An oil company only launches a bid for a competitor when they are super flush with cash (ie a boom) or when you see excellent value (during a bust in prices as now), 24 years in the industry speaking now.

OSH is seriously undervalued, they have a pile of workover programs (as opposed to drilling) this year to reduce costs and maximize returns, have sacked a pile of dead wood in the ranks and are in position for the final culmination of all the hard work over the years, the icing on the cake, the cream on the top if you will.
That is what woodside sees and knows is coming and will look to exploit their industry knowledge ahead of the market, hence the low bid.

Any normal bid is 30-40% above VWAP.
Should be a lot of M and A activity in the sector here shortly.