OH please....you are telling me about the oil and gas business and about how this works? How much A&D have you been involved with in the oil and gas business? How many executive or board roles have you had in public or private companies? None it looks like.
I repeat: ARAMCO will be able to change the CEO or take any action they wish with regard to reorganizing SABIC and integrating it into their own operations or allowing to operate independently as a subsidiary.
Wrong. As I said as a shareholder ARAMCO can not appoint a CEO, they can propose through their position on the Board that there is a change in management. That is a vote that must go to all shareholders. Generally (unless their corporate documents state otherwise) this is not a unanimous vote but a majority in which case ARAMCO will win out.
They cannot take
take any action they wish with regard to reorganizing SABIC and integrating it into their own operations or allowing to operate independently as a subsidiary.
that is just stupid. SABIC is a public company. It can't be integrated into a private company. It isn't a subsidiary because ARAMCO does not outright own 100% of SABIC, they would only own a controlling interest. Any changes of this nature require 1. unanimous votes and 2. purchase of all remaining outstanding shares. Where do you get this nonsense?
Yes, there will still be 30% of the share outstanding, but that is a minority of the shares and won't be able to prevent ARAMCO from doing whatever they want.
apparently, you know very little about how corporations work. The minority shareholders have specific rights which keep the majority shareholder from "doing whatever they want". And there are many issues that require a unanimous vote in order to happen. As well there are specific laws that require an arrangement of this nature to be "at arms length", meaning ARAMCO cannot act like it "owns" SABIC outright as that flies in the face of most securities regulations.
OK---thats three times over three days I've explained these very simple ideas to you. Are you going to go for your existing record of two weeks of posting over and over and over again on a single completely inconsequential topi
Look you moron....you have jumped all over the place with your views on this. Lets back up a couple of pages in this thread and look at what you actually said.
you said:
ARAMCO may be combined with SABIC, a huge Saudi petrochemicals company, in order to increase the value of ARAMCO
inferring a complete "takeover" of 100% of the shares and then integration. This cannot happen with a partial share purchase suggesting you actually believed something else was happening.
then you said:
If KSA goes ahead with this, KSA will putting an ARAMCO-SABIC IPO on the market instead of the original sale involving just Aramco
This could not happen unless ARAMCO did a 100% takeover of SABIC. And it certainly can't happen with the current proposal of buying shares because SABIC is a public company already. Please explain to everyone here how you do an IPO of a public company
and then you said:
It would no longer be the original and much ballyhooed IPO for just ARAMCO assets. KSA would now be sweetening the deal by offering a different IPO package involving both ARAMCO assets AND SABIC assets
Again inferring you believed this would be a 100% takeover of SABIC. Or you have some stupid idea about doing an IPO of something that is already public.
So please spare us all the BS. You have changed your tune once you were instructed and now are portraying it as if it was your original understanding all along. Not only that but you haven't a clue how a public company actually operates, what rights a majority shareholder has or the actual meaning of "control" in this situation.