I agree with you in that shell could easily pull out. I guess they have time on there side and will wait and see how things play out amidst the current uncertainty over the super tax, Europe and potentually China. I believe the proposed super tax will be somewhat different by the time it is finally legislated. Europe is on a downward spiral. China, as stated earlier has a property bubble that they are trying to contain. (see faber's article, I think the cnbc site has it.) If they do pull out it becomes hypothetical as to which factors contributed by what amounts to their decission to do so. So Shells desire for Arrow amidst the the current climate would be indicative of the value they place on arrow. There is also the possibility that Shell will put in a revised downward offer and why wouldnt they. Everyone loves a cheaper bargain. Like buddy I was in Arrow for the long term and I am quite happy to take a hit on the current share price if it means the deal falls over.
AOE Price at posting:
$4.80 Sentiment: Hold Disclosure: Held
