“Will the new buyer pinch pennies on its community outreach efforts? Cut corners on environmental safeguards? Skimp on its public safety obligations? Or cut costs in worker safety just to make an extra dollar? I don’t know, but that is exactly the point. Nobody knows. We should just stop wasting any more time and resources, and shelve the Occidental project now.”
Really, just stop wasting time? It sounds to me like the words coming from someone who wants something.
It will generate roughly $2.75 billion of free cash flow and boast an enterprise value of about $20 billion.
The spin-off company should have a large free cash flow and ready to hit the ground in a big way. It may be something that the council should look into.