Don't need to wait for Feb 28th to announce??

[Tree]

Saw something this afternoon that makes me think that IOC has advised bidders that bidding closes on Feb. 28th but this does not mean IOC cannot sign a deal with partner(s) at anytime prior to Feb. 28th.  Have the deal you want with the partners you prefer and sign that offer shgeet.  Similar to an E-Bay auction, there is a deadline but seller reserves rights to sell anytime.

Maybe we can get clarification from philstar.com.

[Justin94360]

Was also thinking no reason all bids won't be in prior to this date.

[Putncalls]

Will the shorters wait until MAR?

[Palm]

Absolutely no reason. In fact there is a more than good chance IOC knows who it's partner will be based on how things have already gone. If a bidder has met requirements and bid at a level acceptable and/or simply needs their BOD to approve the deal, it could come at any time. We are basically at 30 days at this point and the message today could be, "We have an acceptable bidder, now the rest of you have until Feb 28th to come back with a BOD-approved bid because our BOD will be making the selection and announcing the partner(s) very soon after the 28th."

If you plan to announce the winner it will have to be BOD Pre-approved. Otherwise the process drags. That tells me the flag has not only been raised but this race is too the point that we can see the checkered flag. And there is likely a leader who is far ahead of the pack.

[Tree]

Absolutely no reason. In fact there is a more than good chance IOC knows who it's partner will be based on how things have already gone. If a bidder has met requirements and bid at a level acceptable and/or simply needs their BOD to approve the deal, it could come at any time. We are basically at 30 days at this point and the message today could be, "We have an acceptable bidder, now the rest of you have until Feb 28th to come back with a BOD-approved bid because our BOD will be making the selection and announcing the partner(s) very soon after the 28th." If you plan to announce the winner it will have to be BOD Pre-approved. Otherwise the process drags. That tells me the flag has not only been raised but this race is too the point that we can see the checkered flag. And there is likely a leader who is far ahead of the pack.

Going into a large asset sale like E/A  the price IOC would take needs to be made known to bidders.  It may have sounded unrealistic and greedy 1.5 yrs. ago but political and resource de-risking and market forces now make IOC's price doable.  I think what has happened is either IOC's 'Reserve Price' has been met or IOC's 'Buy Now Price' has been met and they've told other bidders such.  De-riskng Ant-3 appears to have been key.  Either way looks like IOC can announce a deal anytime, 'like a thief in the night', just as they could have prior to announcing bid closure Feb. 28.  Sleep well shorts.  HoHoHo.