REPORT: Hession Changed The Deal on XOM

[CAC]

Last Dec. at the time some were organizing e-mail campaigns to BoD to demanding them to 'quit holding out for a great deal' and 'take a deal' I posted this which was met with venom by malcontents: "The last thing we need is seller's remorse by selling cheap as many prescribe." Well, it appears that perhaps the BoD may have been battle weary and were pressured to 'take a deal' and that can explain why Phil resigned or was fired. Enter Hession who apparently re-set the terms and brought over trusted Woodside negotiators to max IOC's deal. This has all been mentioned on SHU and none should be surprised it is now publicly reported that Hession did re-visit the terms of a crappy deal with XOM. And he opened the process up to a few other SMs. The last thing we need is seller's remorse.

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I've been looking at this whole thing the wrong way. I have been thinking, for three years, that getting a deal done was what I wanted. Now I see that "not having the deal done" is actually better.