big thanks to management, page-22

DIETZr,
Thanks for that.
On 22 December Arrow ( AOE ) made a cash/scrip offer of $5.40 for Pure Energy ( PES ).

The Directors of Pure were in unaminous agreement subject to there being no superior offer and an independent expert satisfying that the offer was reasonable.

A new offer was made on 9 Feb 2009 by BG Group for $6.40 cash.
A new offer was made by AOE on 11 Feb 2009 for $7.16 mixture cash/scrip.
A new offer was made 17 Feb 2009 by BG Group for $8.00 cash.
A new and successful final offer was made 27 Feb 2009 by BG Group for $8.25.

The point to note in the above is that the initial acceptance by Pure was basically on the same terms and conditions that BOW are demanding from Shell...i.e.

No superior bid and in accordance with a recommendation from an Independent Expert.

GO the BOW.