In the the end it's up to the board to be happy with the price...

In the the end it's up to the board to be happy with the price and make the recommendation to shareholders. Mr Clarke the chairman who would understand the business more than most would have the major say on the recommendation and the board with most of them major shareholders would be out of position. So I can't see them rolling over on a low ball bid and not maximizing there's and shareholder returns
Dr Poiner while being CEO, I don't think he would have a major role in negotiations especially on a share purchase price as it's more the boards roll while he concentrates on running the business. While no doubt the company bidding would want as low price as possible, we have to take into account that they approached Hyro. And are making the bid so would be well aware there they would have to pay a premium to what is most likely a fair price.

I look at this way would 60 cents be fair, maybe it would but it's only 13 mil if you take away the cash. So even if you add a small premium for the take over and even 90 cents at around 20 mil is cheap. Especially when you take into account they company (Buyer) does not have a major presence in Australia. If you add how much it cost for a player to establish itself and build up to the customers hyro has.
They must think with there backing that they can build hyro and see returns far greater than the cost in time and money that establishing a base here would cost ( not discounting Thailand.).
But it's interesting seeing everyone come up with a price no doubt we shall see it this week and it's been very informative to here everyones point of view.
For me though I still see $1 as after cash it's 24 mil which I think is cheap compared to the costs of establishing a presence and the leg up the
customer base gives. And the board as well as the buyer would know this.