Interesting turn of events with BG. They have a distinct advantage with the Pound v Aus $ plus the decreased value of QGC SP at the moment through no fault of QGC. You cant really blame BG for having a crack really.
Not so good for shareholders though as the BG holdings and agreements in place dictate that it would be very difficult for any other players to justify a tilt at QGc which for the holders means a lack of competition so dont count on too high an offer (insert a look of utter frustration icon here).
Talk seems to be around a $5.80 to $6.30 per share offer to AGL which in todays climate is a fair offer however it will look pretty lame in 12-18 months as the Curtis project nears fruition imo. What BG offer to QGC board and general shareholders is yet to be seen.
Should BG offer somethong north of $6 i will probably take it at the moment if it hits the table.
The alternative is that BG secures the AGL holding and leaves it at that for now (a lot less likely but you never know i guess).
Apparently the board are reviewing an offer for their personal stake if you can believe the press this afternoon which would suggest that the offer is more than decent to their minds (not necessarily ours of course).
All in all i am pleased that this offer will protect the QGC SP for a while and hope that it takes a long time to evolve so some sanity can come into this equation (need the management to take a very long term view here).
One of the reasons I don't hold QGC is because of the management.Good post here Abyss....actually, I'll be very cranky with Cottee if he lets QGC go (the Chairman has a big say with his very very large holding too).
This recession thing will come and go long before the gas runs out.
By the way, congratulations in October stock comp.....you'll win for sure!
One of the reasons I don't hold QGC is because of the management.
The AGL fiasco pissed me off, and said to me they were prepared to let the company go for less than its true worth.
Im very sour about this takeover and will not be accepting it until Im forced.
Like I said above, I've been paranoid, and rightly so about the management of this company. It just proves it wasn't paranoia...The recommendation by the board goes to show that they aren't representing all shareholders interests. AGL will sell ut only if they can secure rights to local gas supply, BG says the merged company will benefit from having one owner.
There is no real benefit to the offer for other smaller shareholders, other than the premium to the current share price. There is no way you can own any interests in QGC other than owning BG, so you don't benefit from the synergies... nor are we getting the extra sweetner that AGL has acquired. Im very sour about this takeover and will not be accepting it until Im forced.
The recommendation by the board goes to show that they aren't representing all shareholders interests. AGL will sell ut only if they can secure rights to local gas supply, BG says the merged company will benefit from having one owner.
There is no real benefit to the offer for other smaller shareholders, other than the premium to the current share price. There is no way you can own any interests in QGC other than owning BG, so you don't benefit from the synergies... nor are we getting the extra sweetner that AGL has acquired. Im very sour about this takeover and will not be accepting it until Im forced.
Geez you bunch are a hard lot to please! You wouldn't find me complaining if I logged into my portfolio one of these days and saw one of my holdings up 80% for the day!!!
You don't understand that these stocks really are going to be the next woodside.
Yep, Queensland Gas will soon be no longer.......after thinking a bit more about it today, who wouldn't be happy selling out, and buying some other depressed stock? Just means our cash goes further than it would have some time back. If only hey..........if only these good gas stocks didn't keep going offshore.....that's the bit I'm peeved about.
Well I for one think that Shell now has to make a bid for Arrow because someone like BG can come in and steal it from them AND spare a thought for those SGL shareholders that rejected QGC T/O they are now .16c
cheers laurie
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