12-27-2012, 03:41 AM
Sfiaes, while I am not privy to any sort of inside info what leads you to believe this bc I actually believe the opposite to be true. Here is why: Mitsui extended their agreement with IOC until EOY back in the spring. Since then only positive things have happened for the stock. That extension was at a price of $2.2mcf. I would assume based on what has happened since the spring Mitsui has either kept their bid at $2.20 or raised their bid. If Mitsui is out it would be for one of two reasons either they were outbid or they dropped out. Nothing has happened in my opinion that would cause them to drop out since in the spring they were clearly interested which tells me if they are out its bc they were outbid. If they were outbid I believe 1) this would have leaked and the stock would be trading much higher right now 2) I think they (JKM) would have mentioned it in the press. If you recall they have mentioned their involvement to the press several times even though they have a CA which in turn leads me to believe they would mention their lack of involvement if no longer a bidder. Due to all of these "hints/opinions" I believe JKM is still involved and their bid is still being considered but once again this is just my opinion