"So at the end IVA won & all proceeds from sale of CCP will be returned to shareholders ($135M post tax). Maybe not so positive as some think for long term."
This still leaves them with 85m of cash, plus other cash flows from WD and royalties, which is more than they have ever had in their histiory. If they can get to where they are today with much less cash than this, why is 85m of cash a negative for the long-term?
The only difference is that it makes EXS more vulnerable to attack from IVA. They will just scoop us up after the distribution, but if you put your cash back into EXS stock, then your return will be greater than if IVA made an offer for us now.
I couldn;t be happier with the announcement. The market reaction is pathetic, but I have come to expect that now.
EXS Price at posting:
66.5¢ Sentiment: Buy Disclosure: Held
