In the end the decision changes nothing. Sorry invertedva, in fact, the situation is quite interesting, as at the time the Magnum Hunter was superior, however now it is not. So they must increase their bid, however, as Nordesmic mentions, their SP has fallen heavily since the takeover offer was announced so their offer is 10% lower than DLS now. Also, I imagine this is putting pressure on Magnum Hunter management in regards to how they spend what cash they have (as they have a huge amount of debt).
Tomorrow, DLS is will lodge the offer again, 2 weeks later, the majority of AQO shares will be converted to DLS, who, if anyone has noticed came out with a very impressive quarterly. They also have a reserves upgrade to come in a few weeks plus ongoing drilling.
AQO Price at posting:
34.5¢ Sentiment: Hold Disclosure: Not Held
DLS Price at posting:
$1.58 Sentiment: Buy Disclosure: Held
