Tuesday 23 December 2014

It's cheeky bid time - part 2

Alistair Osborne's brilliant column this morning was alluding to was I suggesting in yesterday's post about Afren although I have to admit his missive was somewhat more sophisticated, detailed and eloquent than mine. If you haven't read Alistair's column, here is a link to it: http://www.thetimes.co.uk/tto/business/columnists/alistairosborne/article4305158.ece

The one thing Alistair - a former colleague/boss of mine during my time at The Daily Telegraph - didn't mention was that Heritage Oil may be one of the parties keen on coming up with a rival bid for Afren following Seplat's approach.

For readers that don't recall, Heritage Oil was taken private in April by Al Mirqab, a vehicle controlled by Sheikh Hamad bin Jassim Al Thani, the former Qatari prime minister also known as "HBJ".

Al Mirqab paid £924m in cash for Tony Buckingham's Heritage Oil. I wonder, though, whether the Qataris are regretting that deal now given where the oil price is today?

Still, some of my sources believe Heritage Oil had a historical interest in owning Afren. However, it's not clear whether the Qataris have the stomach to mount a counter bid for Afren company after paying what now might be considered a high price for Heritage Oil earlier this year.

Elsewhere, I see Bloomberg today released "part 2" of its deals for 2015 prediction list and is also still banging the drum about Stryker preparing to launch a multi-billion bid for FTSE 100 orthopaedics group Smith & Nephew. Here are links to both those articles:



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