what to do., page-23

Taipan, don't be confused! Let me explain my thoughts (and pretty much like everyone else, they are just hypothesis):

On DV, I see three scenario's based on the announcement. Factoring in regulatory constraints, my three in order are;

1) DV & SGH put a highly conditional offer for all of NXS on the table. DV left to allow the remaining Board to vote on the offer free of potential conflict. The offer was rejected as per announcement.

2) NXS Board rejected an SGH proposal while he was there and so what value did DV have in hanging around? My work here is done sort of thing. Back to SGH to chase other O&G opportunities.

3) DV has left to allow an offer "free of conflict" to happen. I just can't see this as reality as the regulators would see straight through it. I'm happy to be wrong.

DV's appointment troubled me from day 1, not because of his capability, just simply why would a big end of town guy bother with something the size of NXS? It's pretty clear that the "Chairman" position was little more than a paid consultancy role to put together a deal . The lack of transparency is shameful, why didn't they just put him on as a consultant to "assist NXS with its strategic vision"? Whether that deal has died or is still going depends on the above 3 scenarios.

As you point out, without a vehicle to contain tax losses, I'm not sure SGH would be interested in cherry picking assets.

IMO / DYOR