Nothing is going to happen to this offer from Shell/PC until AOE prepare a Target Statement.
The Target Statement will value AOE's existing and future value. Davies has probably already told them to go away and come back with $7 plus.....and he has thrown them the AOE books so that the big wigs at Shell can really see what they are getting.
The existing bid will go nowhere. If I was the Chairman of BG I would be putting $7 on the table right now.
Shell will be back with a better offer.
AOE Price at posting:
$5.25 Sentiment: Buy Disclosure: Not Held
