'CAC' pid='73554' dateline='<a href="tel:1468245 Wrote:Did that article say 50%...or 10%?
My gut says that there really is a legitimate new bid by XOM (which might result in a new bid by TOT) and that we ultimately get a reasonabkle valuation...but my mistrust of Hession has led me to at least contemplate that this "new offer" (and a reference to OSH having to "add 10% to beat it"
could all be contrived by Hession and OSH. Is it possible that Hession's contacts with the funds led him to conclude that he wouldn't have enough "yes votes" unless there was a sweetener added. OSH can only pay so much...and Hession wants the deal at whatever price he can get it...so, there is an attempt to psychologically throw the complaining shareholders a bone (with the small sweetener) and yet still control the amount of the increase? This may be far-fetched, but I put nothing past Hession at this point.
That really wouldn't make much sense. If most shareholders believe that there are other suitors, they would be less likely to accept a new deal, especially one that only raises the buyout by 10%. They want us to believe that this was the best deal they could get. I believe the alternate offer is real and they eventually will have to tell us what it is. All this delay does it make it more likely the current deal will be rejected if it gets there. i would much prefer owning Exxon or Total stock to Oil Search.