exco's response to cash offer ..., page-36

"But a take over of CDU at the same premium would be $1b"

AKA,

It would depends on as to where they, (someone making an offer to CDU that is), started calculating the average price. If they were to work it out over the last two or three months, for instance, the offer price for CDU wouldn't be as high as that.
And, (although I am only hoping that Tweets let this go through as it has nothing to do with EXS, and it is ONLY A COMPARISON), the Directors that have been accumulating would have a final say in the matter while the poor retail sharehodlers will be left hanging.

In the EXS offer for instance the T/O offer is currently less than the share price, as it was based on past share price values.

Finally, even if we are to allow a 19% premium for CDU, on the figure of $760 mill as you have quoted, the result is less than $1b.

There is no malice at all intended in what I am saying. Just calling a spade a spade. That's all.

Buddy