heritage trust ipo paying 9%+, page-37

The other was Freddie Mac bandicoot.

As for rnc they still have to run the business as though the take over was not going to happen. For me the business is in good shape with Debt down to 14 mil, which there paying 8.8% and in place to dec 2014. So interest costs are down by 1.4 mil and cost savings this of 280k. Profit increases 1.4 mil a year. The way they are going they could be close to debt free in 3 years with profit then around 4.5 mil a year. The business with its steady income and if it starts paying a dividend would easily operate at a pe of 10 or mc around 50 mil plus or 40 cents a share. So while the sale would be nice and good profits for all. The buyers are paying only market value for the stock and are not paying over the odds. With synergy that will fit in with there exsisting business and give it a national profile with offices in in every major capital it's cheap at the price they are paying.
Debt free and growing the business and synergy cost saving the trust will easily be able to return the promised outlay. Without rnc I doubt it would be possible to sustain the return or attract insto support without a national footprint or the returns. So while I 80% sure the sale will go through. I think rnc over the next 2 years will have the same returns with debt reduction and growth also paying a dividend. They are probably one of the luckiest companies out there to have nab write of 15 mil in debt and and the buyer to pay then 4 mil for 10 mil share at 40 cents if the sale stalls. And also in this environment they must be one of the few business to increase profits, which shows how bullet proof even in tough times this business is.