re: Ann: A$27 Million Takeover Offer by Palad...
Thumbs up Grogman... just wondering how stupid management think we are or is this just the start of the negotiations?
Either way it would have been nice for NGM to at least try to get a fair initial price. Have a look at the top 20 holders. I think that some of those more "sophisticated investors" would not be to happy about this deal either, and then theres 45% roughly of smaller shareholders who will make up the balance. 21+ million shares will see a rethink/reoffer, so I dont think its a signed/sealed/delivered deal as some others seem to think here ("pretty much a goner already dude")
Another thing thats interesting is some of the sell recommendations around for PDN at the moment. There are some buy recommendations too, but also sell to the tune of $3.20. Interesting to note that PDN managment told their shareholders that when they were raising $400million not long ago it was for Takeover/expansion opportunities but now they come up with a script offer? What is the capital for then? Interesting times indeed...
Disco.
NGM Price at posting:
13.5¢ Sentiment: None Disclosure: Held
