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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:3,794 Points:1,207,670 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:4,283 Points:1,119,130 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:991 Points:427,170 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:10,815 Points:1,253,445 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:15,156 Points:2,615,780 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:4,571 Points:1,836,960 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:6,102 Points:1,577,875 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:6,418 Points:1,316,115 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:11,865 Points:2,168,645 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:5,209 Points:1,047,095 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:4,456 Points:1,102,700 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 Champion Author San Francisco Posts:1,068 Points:371,420 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:5,770 Points:1,117,925 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:5,080 Points:908,695 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:5,550 Points:995,860 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:5,646 Points:1,483,580 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:8,037 Points:1,542,215 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:4,459 Points:755,685 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:7,045 Points:2,004,050 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:6,128 Points:1,164,570 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:7,307 Points:2,156,095 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:6,605 Points:1,235,140 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 Champion Author Oregon Posts:1,857 Points:1,122,375 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:11,585 Points:1,503,440 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:377,120 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:10,815 Points:1,253,445 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:5,836 Points:1,157,885 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:8,037 Points:1,542,215 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:4,734 Points:1,496,980 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:8,524 Points:824,475 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:5,426 Points:1,106,800 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:5,492 Points:1,142,460 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:2,294 Points:704,745 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:3,010 Points:611,275 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:4,659 Points:953,210 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:1,341 Points:669,365 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:37,400 Points:707,545 Joined:Jan 2010	Message Posted: Mar 15, 2010 9:12:35 AM Ignore Bill100 Report Abuse tml721: you're right.
gasforus Champion Author Michigan Posts:6,789 Points:1,729,565 Joined:Dec 2005	Message Posted: Mar 15, 2010 9:10:57 AM Ignore gasforus Report Abuse ok
tml721 Champion Author Columbus Posts:10,045 Points:1,930,540 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 Champion Author Chicago Posts:3,315 Points:359,265 Joined:Sep 2009	Message Posted: Mar 15, 2010 9:07:11 AM Ignore jorobins538 Report Abuse oh, snap!
goalie1950 Champion Author Phoenix Posts:4,064 Points:833,270 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:1,260 Points:521,155 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:6,647 Points:1,643,625 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:2,582 Points:646,305 Joined:Sep 2008	Message Posted: Mar 15, 2010 8:58:29 AM Ignore VTROCK Report Abuse Who cares?
indyjim Champion Author Indianapolis Posts:7,416 Points:1,858,620 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:6,516 Points:1,949,420 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:4,230 Points:920,980 Joined:Jul 2008	Message Posted: Mar 15, 2010 8:54:42 AM Ignore ModelWarships Report Abuse Go with the Dutch.