This story makes no sense. Why would Exxon offer such a small premuim as "up to 10%"? Anyone would assume OSH and TOT could find a way to match that, so why even bother? Also why does the story imply that simply matching Exxon would fly as if it were equal, given the issues trading the CVRs and ADRs?
Makes much more sense, to me, that the leakers were trying to imply that OSH would need to match Exxon's offer, plus "up to 10%" to cover the trading issues an OSH deal presents to US-based investors and funds. Wishful thinking, I know.
Makes much more sense, to me, that the leakers were trying to imply that OSH would need to match Exxon's offer, plus "up to 10%" to cover the trading issues an OSH deal presents to US-based investors and funds. Wishful thinking, I know.