The prices for the EFS O&G companies seem to be in the doldrums...

The prices for the EFS O&G companies seem to be in the doldrums generally at the moment. It is possible that holders have adjusted their holdings down to a level that they are 'happy' to carry until things generally improve and until the flow results are released. The merger process still has technical hoops to get through so arbitrage between TXN & SEA is a bit uncertain. And valuations of TXN(2) are just guesses because of the paucity of information. All said and done, there's not a lot of reason for dynamic trading in the company. I still feel that we might do better through the merger than through a 'cheap' takeout but I can't really put any figures on it.