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Arrow to reject Shell, PetroChina $3 billion bid

Reuters -- Australia's Arrow Energy is set to reject as too low a $3 billion joint takeover offer from Royal Dutch Shell and PetroChina, a newspaper reported, a move that could prompt the bidders to return with a higher, hostile bid.

A stream of analysts' comments suggesting the offer is too low, coupled with how long it has taken Arrow to assess the offer, have triggered speculation the proposal will be rejected, the Australian Financial Review said on Monday.

"A rejection by Arrow could precipitate a formal bid by Shell and PetroChina, which will allow shareholders to make a decision," said John Young, energy analyst at Wilson HTM Investment Group.

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Submitted Mar 15, 2010 By: Mudsprings

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my2002m Champion Author Tulsa Posts:1,347 Points:703,590 Joined:Jul 2008	Message Posted: Mar 15, 2010 1:10:04 PM Ignore my2002m Report Abuse If a deal goes through, watch oil prices continue to climb as China buys up all the oil reserves that they can.
BEngr Champion Author Illinois Posts:1,716 Points:615,085 Joined:May 2008	Message Posted: Mar 15, 2010 10:31:50 AM Ignore BEngr Report Abuse It looks like there will be more negotiations before they agree on a price.
WyrelessMike All-Star Author Little Rock Posts:969 Points:286,180 Joined:Aug 2008	Message Posted: Mar 15, 2010 10:23:11 AM Ignore WyrelessMike Report Abuse Good for Arrow. This isn't some fire sale where "everything must go!"
OHMS Champion Author Orange County Posts:8,113 Points:914,610 Joined:May 2005	Message Posted: Mar 15, 2010 10:19:13 AM Ignore OHMS Report Abuse mAY NOt need to speak it; but I want to learn to understand what they say.
sivart Champion Author Arkansas Posts:11,935 Points:2,106,005 Joined:May 2004	Message Posted: Mar 15, 2010 10:15:40 AM Ignore sivart Report Abuse Hove you started to learn to speak Chinese yet???
JediKnight Champion Author Wisconsin Posts:3,186 Points:1,513,340 Joined:May 2004	Message Posted: Mar 15, 2010 10:15:28 AM Ignore JediKnight Report Abuse thedennis64, So Arrow should "accept" ANY "fair" offer that is made for itself? Even if it is a "respectable" market value price... I tend to think in a "free economy" companies have a choice if they want to sell regardless of price.
esquared Champion Author Oklahoma City Posts:3,948 Points:1,146,050 Joined:Jan 2006	Message Posted: Mar 15, 2010 10:07:11 AM Ignore esquared Report Abuse World-wide capitalist principles at their best.
Wolfwings Champion Author Delaware Posts:3,937 Points:820,505 Joined:May 2004	Message Posted: Mar 15, 2010 10:01:54 AM Ignore Wolfwings Report Abuse I wonder what would happen if WE CONSUMERS banded together to buy a controlling interest in a major refinery.
Gas_Buzzer Champion Author South Carolina Posts:9,493 Points:1,705,010 Joined:Sep 2005	Message Posted: Mar 15, 2010 9:56:37 AM Ignore Gas_Buzzer Report Abuse and I reject the Obammie programs he is forcing down our throats.
doncNJ Champion Author New Jersey Posts:2,780 Points:565,920 Joined:Oct 2008	Message Posted: Mar 15, 2010 9:55:53 AM Ignore doncNJ Report Abuse China will win this one.
CISA Champion Author Orange County Posts:2,124 Points:679,195 Joined:Dec 2006	Message Posted: Mar 15, 2010 9:53:24 AM Ignore CISA Report Abuse no surprise here
thedennis64 Champion Author Ohio Posts:1,015 Points:783,370 Joined:Aug 2003	Message Posted: Mar 15, 2010 9:49:24 AM Ignore thedennis64 Report Abuse No, they should let the market dictate the price, just like everything else in a free economy.
Kimmunicate All-Star Author San Francisco Posts:701 Points:160,255 Joined:Jan 2010	Message Posted: Mar 15, 2010 9:47:57 AM Ignore Kimmunicate Report Abuse They should try to get as much as they can.
Sam195 Champion Author San Bernardino Posts:3,230 Points:621,300 Joined:Oct 2008	Message Posted: Mar 15, 2010 9:47:19 AM Ignore Sam195 Report Abuse We need to start slapping some tariffs on Chinese goods.
Doubleeez Champion Author Connecticut Posts:2,757 Points:548,440 Joined:Sep 2005	Message Posted: Mar 15, 2010 9:45:10 AM Ignore Doubleeez Report Abuse Afghaned - China IS buying the world company by company.
Hunter114 Champion Author Chicago Posts:3,006 Points:493,185 Joined:Apr 2009	Message Posted: Mar 15, 2010 9:44:26 AM Ignore Hunter114 Report Abuse The cost of doing business.
THEDodgeman Champion Author Denver Posts:3,078 Points:974,165 Joined:Apr 2005	Message Posted: Mar 15, 2010 9:39:53 AM Ignore THEDodgeman Report Abuse I'll take some of that if they don't want it.
REVLAW Champion Author San Antonio Posts:5,434 Points:1,035,040 Joined:Jul 2007	Message Posted: Mar 15, 2010 9:39:44 AM Ignore REVLAW Report Abuse To postulate a devious thought ... how about allowing a hostile takeover to receive the money, then the country of Australia could just “nationalize” the all of the former Arrow Energy assets and resources to “reclaim” them for the nation.
DrLyon Champion Author Michigan Posts:1,919 Points:255,300 Joined:May 2006	Message Posted: Mar 15, 2010 9:38:23 AM Ignore DrLyon Report Abuse This is more money than is in my bank account!
Lizzylou Champion Author Stockton Posts:4,535 Points:1,504,700 Joined:Oct 2005	Message Posted: Mar 15, 2010 9:36:37 AM Ignore Lizzylou Report Abuse China seems to be in BIG investments these days!
unicornpmb Champion Author Buffalo Posts:3,537 Points:653,275 Joined:Sep 2005	Message Posted: Mar 15, 2010 9:35:47 AM Ignore unicornpmb Report Abuse Hold out. Whats another billion or so in today's market.
Don20 Champion Author Oklahoma City Posts:4,755 Points:1,649,775 Joined:Mar 2005	Message Posted: Mar 15, 2010 9:35:19 AM Ignore Don20 Report Abuse Australia's Arrow Energy is set to reject as too low a $3 billion joint takeover offer from Royal Dutch Shell and PetroChina, a newspaper reported, a move that could prompt the bidders to return with a higher, hostile bid. China wants to take over all the oil fields they can, in order to supply the ever demanding population..
kyrunner Champion Author Lexington Posts:3,941 Points:727,660 Joined:Aug 2008	Message Posted: Mar 15, 2010 9:33:49 AM Ignore kyrunner Report Abuse Sounds like they may have been low balling them!
ACTown All-Star Author Oregon Posts:892 Points:713,995 Joined:Jun 2007	Message Posted: Mar 15, 2010 9:31:52 AM Ignore ACTown Report Abuse Take overs can be good or bad.
bluenvoy Champion Author Nashville Posts:7,842 Points:1,093,965 Joined:Oct 2005	Message Posted: Mar 15, 2010 9:31:37 AM Ignore bluenvoy Report Abuse This is WAY above my financial means.
gagal31525 Veteran Author Georgia Posts:423 Points:368,645 Joined:Feb 2008	Message Posted: Mar 15, 2010 9:28:30 AM Ignore gagal31525 Report Abuse This will probably make gas go up more.
OHMS Champion Author Orange County Posts:8,113 Points:914,610 Joined:May 2005	Message Posted: Mar 15, 2010 9:27:42 AM Ignore OHMS Report Abuse we'd better get used to China being a world player now.
ljmatney Champion Author Wichita Posts:4,024 Points:565,120 Joined:Jul 2008	Message Posted: Mar 15, 2010 9:27:13 AM Ignore ljmatney Report Abuse Keep conserving and stop buying imported products. The more money you send overseas the more people out of work here.
arnerator Champion Author Seattle Posts:3,252 Points:657,135 Joined:Sep 2008	Message Posted: Mar 15, 2010 9:25:53 AM Ignore arnerator Report Abuse China is getting a bit too involved in these deals.
REVLAW Champion Author San Antonio Posts:5,434 Points:1,035,040 Joined:Jul 2007	Message Posted: Mar 15, 2010 9:25:21 AM Ignore REVLAW Report Abuse So, what is the "meaning of life"? One poet and song writer once termed it "older whiskey ... faster horses ... younger women ... more money." Seems the "more money" aspect has taken priority in this venture that appears headed toward a "hostile take over". Of course, the stockholders could also reject the "take over". [Edited by: REVLAW at 3/15/2010 10:28:29 AM EST]
Helms Champion Author Fort Worth Posts:4,257 Points:1,228,685 Joined:Jun 2005	Message Posted: Mar 15, 2010 9:24:33 AM Ignore Helms Report Abuse well look at the bright side...we won;t have to worry about being green or offending anyone.....
afghaned Champion Author Hamilton Posts:4,390 Points:313,600 Joined:May 2004	Message Posted: Mar 15, 2010 9:20:52 AM Ignore afghaned Report Abuse China is trying to buy the world company by company.
LilRedWagonIN Champion Author Indiana Posts:2,835 Points:607,055 Joined:Oct 2008	Message Posted: Mar 15, 2010 9:18:42 AM Ignore LilRedWagonIN Report Abuse It is good to get as much money as possible when a country is considering selling it heart and soul in its economy to an alien culture whether the dutch or chinese. Faust should have asked for more. Faust would have not made the deal if he could have foreseen the true consequences.
twiper1 Champion Author San Diego Posts:2,951 Points:633,070 Joined:Oct 2008	Message Posted: Mar 15, 2010 9:17:19 AM Ignore twiper1 Report Abuse But will this raise the price of oil and as here?
sleepyt Champion Author Chicago Posts:1,410 Points:420,490 Joined:Mar 2008	Message Posted: Mar 15, 2010 9:14:20 AM Ignore sleepyt Report Abuse There is nothing more here than the standard negotiations when there is first a friendly, then a hostile, business acquisition.
civicdutie Champion Author Rochester Posts:2,692 Points:544,365 Joined:Nov 2008	Message Posted: Mar 15, 2010 9:14:00 AM Ignore civicdutie Report Abuse Looking pretty risky for China, but as alternatives become more widely accepted, their hope is oil prices will fall, which gives them a cheap fuel.
brus282 Champion Author North Carolina Posts:4,626 Points:943,225 Joined:Aug 2007	Message Posted: Mar 15, 2010 9:13:20 AM Ignore brus282 Report Abuse all companies should be leary of the continued company takeovers by the chinese
RocketmanC99 Champion Author Missouri Posts:1,267 Points:443,735 Joined:Jan 2007	Message Posted: Mar 15, 2010 9:12:49 AM Ignore RocketmanC99 Report Abuse $3 billion too low? Man-o-man.
Bill100 Champion Author Grand Rapids Posts:3,645 Points:203,925 Joined:Jan 2010	Message Posted: Mar 15, 2010 9:12:35 AM Ignore Bill100 Report Abuse tml721: you're right.
tml721 Champion Author Dayton Posts:7,395 Points:1,424,230 Joined:Jul 2005	Message Posted: Mar 15, 2010 9:08:23 AM Ignore tml721 Report Abuse If China gets a world monopoly it'll be their undoing.They might be able to set prices as high or low as they want but it doesn't take much time before everyone undercuts them and they'll come crashing down. This happens in buiesses all the time.
jorobins538 Veteran Author Chicago Posts:484 Points:61,350 Joined:Sep 2009	Message Posted: Mar 15, 2010 9:07:11 AM Ignore jorobins538 Report Abuse oh, snap!
goalie1950 Champion Author Phoenix Posts:1,630 Points:327,375 Joined:Oct 2009	Message Posted: Mar 15, 2010 9:05:39 AM Ignore goalie1950 Report Abuse Oh well.
Pucked Champion Author Fort Worth Posts:1,091 Points:210,780 Joined:Jun 2009	Message Posted: Mar 15, 2010 9:01:30 AM Ignore Pucked Report Abuse Cry me a river!
206awd250 Champion Author Seattle Posts:1,255 Points:430,555 Joined:Nov 2008	Message Posted: Mar 15, 2010 8:59:50 AM Ignore 206awd250 Report Abuse well too bad.
baitmn Champion Author New Orleans Posts:4,023 Points:1,131,950 Joined:Sep 2006	Message Posted: Mar 15, 2010 8:58:53 AM Ignore baitmn Report Abuse Why not they will put it too us at the pump for what ever deal is made
VTROCK Champion Author Detroit Posts:1,992 Points:427,755 Joined:Sep 2008	Message Posted: Mar 15, 2010 8:58:29 AM Ignore VTROCK Report Abuse Who cares?
indyjim Champion Author Indianapolis Posts:4,768 Points:1,350,645 Joined:Jul 2006	Message Posted: Mar 15, 2010 8:56:06 AM Ignore indyjim Report Abuse Trying to get something for nothing.
gasman50 Champion Author Portland Posts:3,934 Points:1,438,800 Joined:Nov 2005	Message Posted: Mar 15, 2010 8:55:57 AM Ignore gasman50 Report Abuse Be very careful of the Communist Chinese
ModelWarships Champion Author Missouri Posts:1,906 Points:458,990 Joined:Jul 2008	Message Posted: Mar 15, 2010 8:54:42 AM Ignore ModelWarships Report Abuse Go with the Dutch.
dopster Champion Author Toledo Posts:2,212 Points:1,359,185 Joined:Aug 2004	Message Posted: Mar 15, 2010 8:54:37 AM Ignore dopster Report Abuse I agree that China probably has the bucks to get whatever they want. That, coupled with their growing economic clout, makes their intentions very worrisome.