I found it hard to believe Tony when he was saying that the board are trying to get the best deal for SH. They were willing to recommend 11.5c initially, were surprised the independent valued it at 27.7c a share, and agreed to a price well below that amount. Logically, if you were aiming to get the best premium for SH in any other situation, would you not be negotiating above the top end of the scale, noting that the independent valuation is more likely to be conservative opposed to being bearish, and have that 27.7c as a baseline. The fact they were willing to negotiate at a lower premium despite the independent advice raises more questions about the motivations of this deal.
RAP Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
