It’s doubtful that a PX-APD merger would pass muster with the antitrust regulators. Moreover, APD is currently preoccupied with its hostile offer for ARG; I think APD and ARG will eventually come to terms, but the machinations are getting uglier by the day.
I fully agree with you re the pipeline business.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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