Dubai's Dar Group 13.35pc stake WorleyParsons Read more: http://www.copyright link/business/cons, page-56

Not aware of John Grill being an investment banker, though I guess Worley have bought up many companies over the years. He was originally a civil engineer from memory. I always had a lot of respect for him in years gone by, but he made a mistake in choosing Andrew Wood over Peter Meurs. It's a very different company from the one it used to be ... and I'm not just referring to the headline numbers. A company without a soul ... not a great thing when it's only real asset is its people.


Yes, from what I have read about John Grills, and judging from what those who have met him have said about him, my sense is that he is a decent human being.

It will be very interesting to see what his response is to these latest developments.

We know that he is seventy years old and has a definite philanthropic side to him.

The difference between him accepting an $11.80 offer for his 25.3m shares from Dar Group, if it was to be made, and not doing so in which cash the stock might fall back to $9.00, would be around $70m.

A lot of philanthropic good can be done with $70m.

If I was in Grills' shoes and faced with the same choice - i.e., $300m in the hand today (corresponding to $11.80/share), or $230m if I dig my heels in (and then I might have to wait several years, after which the cycle might only get me back to that $11.80 level anyway) - I know which way I'd go, and I suspect 19 out of 20 people would do likewise.