I don't think rival bidders, if they exist rob, will be quick to show their hand if the 'normal' bidding process occurs. If anyone recalls the PES deal the BG bid came on the final day or so before the AOE initial bid closed, and that was nearly two months later if I recall correctly. The fact that no rival bidders have entered yet is not 'not so good news' but merely 'not news' IMHO. Running the ruler over a potential acquisition normally takes a fair amount of time if the process wasn't already in motion, so I imagine anyone interested is in negotiations but will be sitting back waiting for things to unfold and become a little clearer before making a move. After all, I'd imagine everyone needs to see the finer details/conditions of Shell's offer first. Every one of us is keen, but at the end of the day 'hope' for news soon and increased interest, 'expect' it to be a few weeks down the track, and probably not at all. Good way to avoid disappointment!
BOW Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
