Hi I was wondering if anyone had an opinion about santos buying agk.
the profit announcement would have been the perfect opportunity to pick up say 4.9% and then with the continued fall coming this monday start buying heavily, I am not sure how soon you have to notify the asx that you have over 5% i presume about 3 days ie settlement so then you can keep buying for three days thus building a stake to around 15 percent. Would this be possible ? I have not looked at the substantial shareholder list.
From reading the profit downgrade and associated newspaper pieces ( ironic that the australian did better coverage than the AFR) I figure that their problem appears to be gas price related as well as a few other issues but the main one being margins on gas and then retailing that gas with price spikes etc. Now santos has the gas and is looking at a away to diversify. Market cap for santos is not a problem as double the size rougly. Can anyone see some benefit to this would make santos a bigger company more intergrated same goes for agl, could then sell back international assets except for PNG to provide some funding. Would also increase stake in PNH LNG project.
AGK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
