'CAC' pid='73729' datel Wrote:Good thing that the XOM offer is the same structure, as the rumors suggest. It is much easier and faster to evaluate a counter bid that is X+Y > X, where X = the OSH proposal as is, and Y = the incremental value XOM is adding in their bid rather than Z > X, where Z is a very different proposal structure from the OSH structure. This prevents MH and his Board of Destructors from making the claim that the very different XOM proposal, Z, is somehow less than X when in fact it will be much better. For OSH to snooker this from us, they will have to add a new element to their offer rather than simply increase the other too components, as XOM will easily outbid them. But if their bid structures (i.e.. OSH and XOM) become dissimilar, then that gives MH and the Destructors the leeway for slight of hand in "analysing" the counter offer. It seems as shareholders we should have the right to see all offers made to decide for ourselves whether the IOC management is not cheating.
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I agree this structure would hinder Hession's ability to push any self-serving goals, but I'd much rather see a cash (or shares) structure from XOM. That's the only way we will know the true value of the offer before having to vote for or against it. It also shaves off a large waiting period for the second part of our money.
I prefer a US CVR to one on the AUX, but am more comfortable with a CVR with an Antelope 7. What about the option of accepting a GLJ certification, preferably with Antelope 7, or especially if without Antelope 7 since that is essentially a relatively known quantity?! GLJ would not be starting from scratch.