Fed: Goode says decision won t damage foreign investment = 2

AAP General News (Australia)
04-24-2001
Fed: Goode says decision won t damage foreign investment = 2

Mr Goode said the drop in Woodside's share price in reaction to the news was to be expected.

"We are told that there have been a lot of international short-term traders buying
the stock with a view to buying under the Shell offer bid and making a short-term profit,"

he told ABC radio.

"When the decision is made that doesn't provide that, they just sell straight off and
go and play another game, so for a short period, you can understand that the shares would
react downwards."

Woodside's shares tumbled more than 10 per cent to close $1.47 lower at $12.49 on the
back of the news.

Shell had offered a $14.20-per-share cash bid and an asset-for-equity swap, aiming
to raise its stake in Woodside to 56 per cent from 34 per cent.

AAP eg/rs

KEYWORD: WOODSIDE GOODE 2 CANBERRA

2001 AAP Information Services Pty Limited (AAP) or its Licensors.