Looking at TXN's announcement from last week, there are 2 things that are of interest to me:
1) timing = Cliff's comment of "we hope to reach a conclusion soon" &
2) multiple options (as TwinPeaks points out) = "At this stage a transaction involving Texon’s Eagle Ford is the subject of discussions with a number of parties based in Asia, the USA and Australia. These involve varying transaction types, ranging from joint venture arrangements to corporate trades, which have to be carefully assessed and compared.
A minimum of three parties ... probably more.
AUT had EKA over a barrel when they were running out of cash + no competition to buy it and still gave them more than TXN's comparable $/ac calculated off its current market price.
Cudos to those that had the nerve to buy last week.
TXN Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
