There almost certainly will not be a competeing bid for PES. Assuming the relative % s/h remain unchanged as a result of the conversion of the Options, the acceptnaces so far are: Arrow - 17% approx Shell - 14.88% PES Independent Directors commitment - 11% Large s/h commitments - 8%
That's 50.88% before the Takeover offer has even been printed!
The only possible upside to the current bid is if some other s/h hold out, and AOE does not reach the 90% compulsory acquisition threshold.
I have held the shares since IPO, and I intend to accept.
The beauty of this offer is that we can get the CMV (pre-offer) in cash (ie $2.70), then still have a bigger number of AOE shares in our portolio.
So we stll have exposure to the CSG big movers!
A great result !!!
cheers
PES Price at posting:
$4.63 Sentiment: Hold Disclosure: Held