Giralia management have seen this all before; I think they are...

Giralia management have seen this all before; I think they are more than capable of running their own show and will vigorously oppose the notion of takeovers. With near on 50% of shares held by the top20, I get the feeling most large holders will stick with Joyce and Co.

What I would like to know is what a 'reasonable' takeover price would look like. I cannot imagine $2.07 p.s. would be anywhere near par. Personally, if a $10 offer hit the table I would begin to consider - that is based on my longterm approach to the value of GIR without using any valuation metrics.

Cheers,
Split