For those who vote no.
If there is no rival bid before the 18th December then there will be no higher bid by Tullow or anybody else immediately after 18th.
Why should anybody including Tullow make a higher offer if the market values Hardman at or below the present offer?
Tullow or a rival may make a lower offer if the HDR share price falls.
If you vote no, you must be hoping that HDR will recover from the ridiculously low share values placed upon HDR by the sharemarket prior to the SOA.
Maybe Guyane and Uganda will bring HDR share price back up, maybe not.
The board would certainly need to change but would it change for the better and what would happen to the share price during the uncertainty?
For those who vote yes.
Taking the Tullow scrip and cash at least provides an immediate known outcome. Tullow with the HDR assets and superior management should continue to gain in value.
As I pointed out earlier, Tullow has increased by about 70% pa compound over the last 3 years.
If there is a rival bid before the 18th December it does matter how you intended to vote on the 18th December.
I intend to vote yes.
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