Better that PPS get taken over at circa $1.50 or above by either...

Better that PPS get taken over at circa $1.50 or above by either HUB or NWL. It certainly makes sense for them to be gobbled up as PPS trades very cheaply in relative terms, and has some strategic usefulness to both. Frankly I can't see how any of these platforms can grow at these sorts of rates forever...they're making easy market share gains right now, but their valuation multiples are sky high and they will also face disruption in time from new entrants/new technologies...and just as fund managers will come under more and more pressure on fees, so will the platforms. Would be nice if the takeover bid is scrip based bid so that people who disagree with this view can hold on for the ride without CGT impost.