what nhr share price would be, page-3

I agree with you.

Elph Pty Ltd is paying $3/share of NEW National Hire, not the NEW Ned Group.

I guess there is no difference between NEW and OLD National Hire, all the same.

So effectively, somebody valued NHR at $3.0/share. Which is about right. Given it PE=13 for the projected earning in 2009.

IF NHR is valued at PE=13 in Yr 2009, its share price should be at $2.69.

I guess the play is:
1. It is Carlyle want both NHR and COA, but using NHR as a vehicle to get COA;
2. They should pay a take over premium for NHR as well.

Let's wait until everything is settled down.