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International Investing / Australia (All-Ordinaries)


Subject:  Woodside and Shell Date:  4/24/2001  10:31 PM
Author:  Waverley00 Number:  2249 of 6186

The best reason for government to reject the bid was the two situations:

. Shell (as shareholder) had objected to Woodside entering into new exploration in Mediterranean and other non-Australian fields. Shell wanted it to be a pure Australian region play.

. the failure of Shell to make a meaningful offer for control to all shareholders.

The evidence so far is that the dollar is not suffering, and Woodside's price bounced back!

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