takeover, page-3

Ok what it translates to is that the previous offer was worth 12.6c and the current offer is 15.3c when converted on the basis of today's PAN price.

I can't see why MMW doesn't make a counter offer of say -exchange of 1 PAN share for 2 MMW. This will price MMW at 53.5c. I would still be half-hearted selling my holding at this price because I dont trust PAN shares to keep value for too long. Nickel is in a funk and doesn't show any signs of life. I think outlook for PAN is poor going forward.