Gas guru stays ahead of the game, page-5

Yeah it would be odd, but corporate memory can be extraordinarily myopic when it comes to M&A activity.

Look at Wesfarmers and Coles. 2006 Wesfarmers said their balance sheet could handle taking it on and there were great synergies to be had. Late 2017 they decided their balance sheet could no longer handle it, and there were no synergies to be had.

$30bn of purchasing and selling, with who knows how many millions of fees involved in both processes, for them to part ways after 10 years.

Unsurprisngly both events coincided with new CEOs....

All it takes is a change at the top and remarkable things can happen.

Having said that, Beach's CEO has only been there since 2016, so unlikely to be leaving soon.

So there would have to be a very compelling story for them to justify paying twice as much in buying back the shares they sold less than 2 years ago.  Synergies, shared assets, all of that. Seems unlikely to me.