The offer is such a low ball offer and majority of analysts know this. See a quoted section below from a recent article. They believe the offer is so low and this is solely based off existing reserves..what about the international acreage..what about existing infrastructure?. What the Daandine Power Station worth? Us longterm holders know that Shell and Petrochina are trying to get us for nothing. I'm looking forward to seeing management reject the offer. Link provided.
"Analysts said the offer values Arrow's proven and probable reserves at A$0.88 a gigajoule, much lower than an average A$1.88 a gigajoule for 20 offers in Australia since 2005."
http://www.thisislondon.co.uk/standard-business/article-23815121-arrow-energy-to-refuse-dollar-3bn-shell-and-petrochina-bid.do
The offer is such a low ball offer and majority of analysts know...
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