Hang on a second lets think about this...
ESG have agreed to a takeover BEFORE their reserves upgrade?
To me, this is the first bid of the auction!
The ESG board are being cooperative with SANTOS and agreeing to everything in the absence of a superior offer
This is the get out clause and is an important one. Other bidders can arrive soon after the reserves upgrade or earlier.
SANTOS's competition are not going to sit on their hands and let SANTOS get away with picking up this much gas so cheap! Surely not!
It's action Jackson and time for us to watch this space for a rival proposal. ;)
the start of a bidding war?
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