My gut feel is that both CNE and FAR want WPL in the new JV, but both will also recognise that WPL could easily back out if the deal becomes too expensive, or they become uncomfortable with the percentage on offer.
WPL will not IMO settle for anything less than a controlling interest, it's not their form. My guess is they will only move on FAR if they need FAR's 15% to get them that control.
So where does that leave us ? Back with the WPL sweetener option to CNE and FAR to just sit on their PE options and let the WPL offer go through unchallenged.
After that WPL can partner with FAR as per Macey's response suggests.
My preferance is for FAR to pre-empt to increase the size of their piece of the pie, so let's raise the money and do it.
My gut feel is that both CNE and FAR want WPL in the new JV, but...
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Last
46.5¢ |
Change
-0.005(1.06%) |
Mkt cap ! $42.97M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $31.34K | 67.88K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3338 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 199900 | 2 |
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| Last trade - 15.59pm 13/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |