Nice research there energy. Now I am giving the Board a little credit here - and assume that they would have known the connections to PetroChina pretty well as soon as Landbridge Group made the offer/approach.
That would explain clearly why the Board ignored the suitor - and not just because of the low ball offer.
Like the old saying about you can't fool all the people, all the time - and mixing metaphors a bit, WCL has also danced (a very long dance at that) to the PetroChina "tango" in the past, so I think that they would be happier with a different dance partner going forward.
What's surprising is that WCL haven't rebuffed the offer publicly around the historic activities of PC and their connection to Landbridge and thus strip away all the moral high-ground bullshit that the offerer put in their public statement with their offer
WCL Price at posting:
28.0¢ Sentiment: ST Buy Disclosure: Held
