They wont be getting mine for less than $2 cash or equiv, this...

They wont be getting mine for less than $2 cash or equiv, this is a low ball bid, even though they say that it is a 41% premium to the last 20days, most u stocks have had a good week and increased >15%. Even PDN themselves were trading under $3.50 in the last 30days.

From my readings of the offer if half of the shareholders of the remaining 17% not held by RSG vote against the takeover it wont go ahead. This gives us small shareholders some power to get a better deal.

We know RSG want/need the cash, I would rather sit on VUL with its u assets in QLD and NT than take the PDN script on the basis that they are offering, if they upped it to 2.5 for 1, I might consider it, but atm no chance.

Vul were over $1.60 a few months ago and look like they have broken out of a triangle pattern.

This looks like an opportunistic deal for RSG and PDN but imo not for the other shareholders who dont want/need to sell, and with the escrow on the VUL holding by Resolute, the other holders hold all the Aces.

If Resolute want the money so bad, they might have to offer the other holders a sweetener to clench the deal.

This is my opinion only and hold both RSG and VUL, I would also like to know more about the break fee and in what circumstances it kicks in, I think this bid isnt the end of the game...

Cheers Grant