what was really behind rds bid for arrow -lng?, page-8

Thanks guys for your info.
This is from First Prudential:
Petroleum company Royal Dutch Shell has made a takeover offer for Australian energy company Arrow Energy (AOE) that is worth over A$3.3 billion. Arrow is rumoured to have cancelled a shareholder road show in London as a result of the bid. Shell is understood to have made the bid as a result of Arrows proposed Fishermans Landing liquefied natural gas project, which is based near Gladstone in Queensland. Shell yesterday had a 30 percent stake in the project.

I contacted LNG for clarification and they told me that they will be releasing an announcement about it very soon so as to clarify the situation.

As far as I am concerned, the Gladstone Fisherman's Landing project is the jewel in the crown and accroding to the above exerpt Shell's offer to AOE shareholders is based on the proposed acquisition of this by Arrow. If this acquisition has not already taken place (how could it without shareholder approval!) then why the offer by Shell?

I think that if the above report is correct then the value of the Gladstone Fisherman's Landing is worth considerably more than what the directors of LNG thought during their negotiations with Arrow.

The directors may not be as stupid as some posters think. I guess we will just have to wait and see what LNG tells us, its shareholders.