the successful bidder MUST get the acceptances of the PES directors and the two major s/h. The PES announcement dated 18 Feb said that these directors and s/h would accept the BG offer within 7 days of the announcement. So 7 days is next Wed 25 Feb. So if anyone (AOE or Shell) are going to up the ante, then they MUST do it at the latest by next Wed. I guess no one will be acceting the BG bid at $8.00 when the market is paying $8.50. So I guess AOE can leave it to the last minute. I am sure these directors and s/h will give AOE every opportunity to come back with a higher offer. Here's hoping! cheers
PES Price at posting:
$8.50 Sentiment: None Disclosure: Held