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@Fevetreeman Agreed.
My basic message is this is going to take a while to play out and there will be lulls in activity and the sp will wax and wane accordingly. However the genie is now out of the bottle and we are not going back to the status quo ante in terms of the sp pre M&P intervention....
Good points. What I meant was that, as there is no formal offer on the table they wont want to fire their ammo all at once. The Indo's could come back with a much better offer without us having made any further announcements. Its known as keeping your powder dry......and on that note, any hostile bidders will need to do their own due diligence as access to Amer info will be restricted
The problem we have with ONGC is that they are a state owned asset. They are not guided by stock market rules and can withhold price sensitive information for as long as it wants. Remember, they were forced into making a press release in relation to Ind-1 after the cat was let out of the bag with an announcement from the Colombian Govt.
Normal rules do not apply!
@Fevertreeman Firstly, excellent post and I thank you for sharing.
With regards to your 2nd post, whilst appreciating your point I would question AMER ability to control the process of the Sol-1 announcement as it is ONGC who will announce the results, although I appreciate that the situation isn't entirely black and white and will depend on who is interested in what.
Secondly, why do you feel that AMER will want to see "the whites of any formal offerees eyes" when to date
a) there is no formal offer or indeed any guarantee that one will come and said process will take up to another 28 days ;
b) AMER have already turned down the initial offer, declared there are other offers, and commenced a strategic review to establish the best way to maximise the value of the business.
With that in mind why would AMER wish to try to hold back well results, which if commercial only strengthen their position further.
I would like to say that I ask this openly with a view to bettering all of our understanding better and would take the opportunity to thank all contributors for what is becoming a very interesting and informative debate here.
Amer has up to 39 days after any formal offer to add material new information! Something they will no doubt be discussing with their advisers ....they will want to see the whites of any formal offerees eyes before announcing Sol etc imho