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+--- Thread: Buyout (/showthread.php?tid=4179)
Buyout - Putncalls - 07-16-2013
If the XOM deal is almost done; Isn't to late for a bid for IOC?
RE: Buyout - jft310 - 07-16-2013
Definitely not! When the deal numbers are revealed ,then others can see where to place a bid if so inclined.
RE: Buyout - davidhmtk - 07-16-2013
'Putncalls' pid='25760' datel Wrote:If the XOM deal is almost done; Isn't to late for a bid for IOC?
A buyout now would come with a SPA with XOM. It would make it easier for a smaller company to get financing. For a big Oil co like Total or Shell, it is worth a little less with the SPA because Exxon is taking some of the profit from 33-50% of the first field.
RE: Buyout - bam - 07-16-2013
you're assuming the SPA doesn't have a change of control provision. XOM isn't going to work with just anyone. There are a number of reasons why XOM wouldn't commit to blindly working with whoever acquires the majority of IOC shares. Between XOM being this far down the road, the new shareholder plan passing at the AGM, and management continually saying they don't think a buyout is in our best interest, it feels pretty unlikely at this point. I think there's a chance XOM could make a bid, but it's remote, imo. We'll do just fine with a good XOM deal that gives the new CEO the flexibility to drill and keep cranking out JV deals.