stu,
In 2001, Peter Costello stopped Shell buying WPL due to "not in the national interest". So, the way I read it, no foreign company can buy WPL (I do not see JH changing PC's decision). The only company that would pass the national interest test and have the balance sheet strength would be BHP, and they do not appear to be interested. These are my reasons for thinking that a bidding war will not occur, and the block sale of shares will lower the share price on the ASX.
From the paper today:- "The divestment strategies are understood to include Shell exiting via a combination of strategic sales, market placements and probably a share buyback by Woodside." I read this to mean that Shell's 23% stake may be sold in blocks of 4.99% to sovereign wealth funds with the balance being a share buyback by WPL.
There are many permutations that can occur in the block sale process, we just need to wait and see how it lands. They may even do a sale to current shareholders - that would be nice.
HT1
stu,In 2001, Peter Costello stopped Shell buying WPL due to "not...
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Last
$24.05 |
Change
0.270(1.14%) |
Mkt cap ! $45.66B | |||
| Open | High | Low | Value | Volume |
| $23.82 | $24.09 | $23.76 | $106.1M | 4.408M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 17393 | $24.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $24.05 | 4691 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
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