See a good turn around in EBITDA for the half (ignoring write...

See a good turn around in EBITDA for the half (ignoring write down in goodwill).

Deal will still be attractive for MTU to proceed with acquisition of PEO. Good arbitrage at the mo' with a little less risk as of now...

At current relative prices (PEO 4.1c and MTU 50.0c) there is between 28-37% discount in PEO shares to MTU (depending upon cash position upon take over).