GasBuddy News Article

votes

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.

Read the Full Article

Submitted Mar 15, 2010 By: Mudsprings

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: Arrow to reject Shell, PetroChina $3 billion bid	Post a Reply Back to Topics

REPLIES (newest first)

First Prev

Last

ModelWarships Champion Author Missouri Posts:1,886 Points:455,090 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:2,192 Points:1,355,285 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.
Ticoman54 Champion Author Miami Posts:2,601 Points:584,245 Joined:Oct 2008	Message Posted: Mar 15, 2010 8:52:39 AM Ignore Ticoman54 Report Abuse Well said Dennisjk.
AC-302 Champion Author Los Angeles Posts:14,850 Points:1,944,660 Joined:Aug 2004	Message Posted: Mar 15, 2010 8:50:39 AM Ignore AC-302 Report Abuse Interesting that they value themselves more than the bid. However, just like haggling for anything, one never takes the first bid.
Diesel_Ram Champion Author Dallas Posts:1,703 Points:553,900 Joined:Jan 2009	Message Posted: Mar 15, 2010 8:50:08 AM Ignore Diesel_Ram Report Abuse China has the buying power right now.
Maintroll Champion Author Lexington Posts:3,684 Points:724,235 Joined:Aug 2008	Message Posted: Mar 15, 2010 8:49:16 AM Ignore Maintroll Report Abuse They all want to rip the average consumer and steal from everyone else, including their competitors.
esorsd Champion Author St. Louis Posts:1,077 Points:690,000 Joined:May 2005	Message Posted: Mar 15, 2010 8:48:40 AM Ignore esorsd Report Abuse China continues to buy up everything.
TXGasPriceSpy Champion Author Fort Worth Posts:2,676 Points:502,570 Joined:Sep 2008	Message Posted: Mar 15, 2010 8:47:42 AM Ignore TXGasPriceSpy Report Abuse This is bad with worse things to come, especially China.
Cuzilla Champion Author Indianapolis Posts:8,809 Points:1,549,340 Joined:Sep 2005	Message Posted: Mar 15, 2010 8:44:59 AM Ignore Cuzilla Report Abuse What is a company worth? Only what someone is willing to pay for it. Time will tell the true price. At some price, the buyer will acquire a majority of the shares and that will be the real price.
Dennisjk Champion Author Detroit Posts:2,604 Points:1,035,765 Joined:Apr 2006	Message Posted: Mar 15, 2010 8:43:35 AM Ignore Dennisjk Report Abuse The world is letting China buy everything. Soon, they won't have anyone in the world that can afford to buy their merchandise.
eights Champion Author Ohio Posts:1,889 Points:512,105 Joined:Aug 2006	Message Posted: Mar 15, 2010 8:43:29 AM Ignore eights Report Abuse doesn't sound good
clermont40miles Champion Author Cincinnati Posts:4,751 Points:804,945 Joined:Apr 2008	Message Posted: Mar 15, 2010 8:43:00 AM Ignore clermont40miles Report Abuse Corporate chess. Not my game.
TommyTraveler Champion Author Cincinnati Posts:3,681 Points:720,080 Joined:Nov 2007	Message Posted: Mar 15, 2010 8:42:47 AM Ignore TommyTraveler Report Abuse More consolidation less competition means higher pricing for us.
njerald Champion Author Seattle Posts:2,892 Points:666,480 Joined:Oct 2007	Message Posted: Mar 15, 2010 8:41:22 AM Ignore njerald Report Abuse Ho hum...
CptnCanada Champion Author Saskatoon Posts:2,753 Points:412,000 Joined:Jun 2008	Message Posted: Mar 15, 2010 8:39:54 AM Ignore CptnCanada Report Abuse This should be a good excuse to raise fuel prices by $0.10/L
bills55 Champion Author San Diego Posts:1,163 Points:301,025 Joined:Sep 2009	Message Posted: Mar 15, 2010 8:38:51 AM Ignore bills55 Report Abuse RochBear has it right!
9C1 Champion Author Chicago Posts:17,684 Points:3,277,720 Joined:Jul 2001	Message Posted: Mar 15, 2010 8:38:24 AM Ignore 9C1 Report Abuse Just like the USA auto manufacturers -- more consolidation bringing higher prices.
MightyDude Champion Author Minnesota Posts:5,336 Points:1,672,395 Joined:Mar 2003	Message Posted: Mar 15, 2010 8:36:59 AM Ignore MightyDude Report Abuse Dig your heels in, Shell!
ByGuy Champion Author Dallas Posts:3,231 Points:786,735 Joined:Nov 2005	Message Posted: Mar 15, 2010 8:36:25 AM Ignore ByGuy Report Abuse Business as uusual!
RochBear Champion Author Minnesota Posts:5,543 Points:1,050,240 Joined:May 2006	Message Posted: Mar 15, 2010 8:36:19 AM Ignore RochBear Report Abuse More consolidation, less competition, and more owned by China. None of this sounds good.
BillHeatherL Champion Author Alberta Posts:2,767 Points:981,160 Joined:Apr 2007	Message Posted: Mar 15, 2010 8:35:24 AM Ignore BillHeatherL Report Abuse this will probably mean higher prices at the pumps
repeater1 Champion Author Kansas Posts:3,447 Points:1,402,395 Joined:Oct 2005	Message Posted: Mar 15, 2010 8:32:24 AM Ignore repeater1 Report Abuse More consolidation, higher prices.
briguy101386 Rookie Author Oregon Posts:79 Points:27,060 Joined:Aug 2008	Message Posted: Mar 15, 2010 8:31:32 AM Ignore briguy101386 Report Abuse China is where they are now because they are being industrialist and not having to force everyone to conserve and cut back. And they aren't spending like there is no tomorrow like we are. I hope shell gets it over China
bad_sailor Champion Author London Posts:2,974 Points:723,180 Joined:Dec 2007	Message Posted: Mar 15, 2010 8:31:09 AM Ignore bad_sailor Report Abuse Good luck to them all.
CLM06 Champion Author Tampa Posts:4,689 Points:1,113,290 Joined:Sep 2006	Message Posted: Mar 15, 2010 8:29:47 AM Ignore CLM06 Report Abuse No matter who wins the public loses
bcb_albany Rookie Author Albany Posts:41 Points:104,235 Joined:Feb 2010	Message Posted: Mar 15, 2010 8:28:33 AM Ignore bcb_albany Report Abuse Stay strong, Aussies, fight the good fight!
yukonjack Champion Author Georgia Posts:4,389 Points:1,139,670 Joined:Oct 2004	Message Posted: Mar 15, 2010 8:28:23 AM Ignore yukonjack Report Abuse Does it really matter who owns the refinerys? It's the price of oil and gas that determine how much profit they make.
timarcos Champion Author Corpus Christi Posts:1,225 Points:285,665 Joined:Jul 2009	Message Posted: Mar 15, 2010 8:27:48 AM Ignore timarcos Report Abuse Money talk BS walk.
The_Gunslinger Champion Author Arkansas Posts:1,897 Points:384,340 Joined:Oct 2008	Message Posted: Mar 15, 2010 8:27:27 AM Ignore The_Gunslinger Report Abuse That's some seriously long green.
threewheeler Champion Author Seattle Posts:2,303 Points:283,845 Joined:Jun 2008	Message Posted: Mar 15, 2010 8:26:22 AM Ignore threewheeler Report Abuse China is certainly setting itself up to own the world.
DustyHorse Champion Author Virginia Posts:1,537 Points:506,940 Joined:Oct 2008	Message Posted: Mar 15, 2010 8:18:27 AM Ignore DustyHorse Report Abuse Hopefully, Shell wins.
Bubba44612 Champion Author Ohio Posts:2,656 Points:915,025 Joined:Aug 2005	Message Posted: Mar 15, 2010 8:18:22 AM Ignore Bubba44612 Report Abuse Bed down with dogs you wake up with fleas... Confucius says
ssect8 Champion Author Hartford Posts:3,087 Points:1,221,150 Joined:Jun 2006	Message Posted: Mar 15, 2010 8:15:41 AM Ignore ssect8 Report Abuse China must have lots of money, so they are going to buy out the world.
lleddirj Champion Author Michigan Posts:2,531 Points:923,400 Joined:May 2005	Message Posted: Mar 15, 2010 8:14:17 AM Ignore lleddirj Report Abuse China is certainly setting itself up to own the world.