Chris,That announcement didn't say anything much of...

Chris,

That announcement didn't say anything much of substance.

IMO, all it says is, that they are not going to enforce the compulsory acquisition. That is all.

They did not say that they were going to sell their holdings, neither did they say they will not come back again at a later date. And, holding more than 20% they can do that at their will, forcing BG to offer AOE a bigger offer for their holdings, once the Takeover is done and dusted and a few months gone by, and/or, as I said on several occasions during this ongoing saga, offer AOE one or two seats on the Board.

Hence why the Director of PES are now pushing the remaining shareholders to sell into BG. They are also dangling the carrot of giving the PES shareholders an extra 25 cents if they will reach compulsory acquisition (90% of total holdings), knowing full well that if AOE will not sell, they will not have to pay any of the 25 cents.

They are also enticing shareholders to sell on the pretence that share prices may fall. IMHO, how can they fall below the $8.00 when that offer is set in concrete, lol.

BG, has also declared it's bid final, hence nothing will change from now on, unless something will come out from left field.

IMHO, a bit misleading from the part of the PES Directors, at this stage of the game. After all, all BG got so far in PES holdings, is about 30% of the holdings with Shell (if Shell does not get a superior offer that is).

So, IMO, the game is still on and untill AOE will declare it's intentions to the market, no one will know which way it will end up.

DYOR. I think that it is turning into a very exciting game of Poker and bluffs.

The best, and most exciting takeover that I have seen, for a long time.

Buddy