KEITH MORRIS | EVOLUTION SECURITIES
On first reading of the document, the main defence centres upon an independent expert’s valuation of the existing assets at £21.20 per share and the potential for exploration prospects to quadruple reserves by full-year 2012. Like Venture’s defence document against Centrica, though, we believe it will prove futile.
DAVID HART | WESTHOUSE SECURITIES
The market hasn’t interpreted the document as a significant addition to the argument. KNOC now has to stand back and say it doesn’t contain anything we weren’t including in our offer, so £18 per share stands. On the other hand, they may want to make the transaction quicker and smoother and sit down with?Dana.
DAVID BUIK | BGC PARTNERS
The chance of getting a better offer from the Koreans would be a fine thing. In the circumstances it’s a fair offer and I can’t see any particular reason why they should up the ante. There is strong shareholder support for the takeover as it is, and we would have seen the share price surge if people thought otherwise.