Plenty of puts exercised pre-market this morning, no doubt...

Plenty of puts exercised pre-market this morning, no doubt shorts will be locking in massive profits (some were in the $15.XX range!) before the weekend to reduce risk.

I agree with @lakota6 as well - takeover threads always pop-up as a last ditch "hope and prayer strategy" when a companies share price has been savaged and there is no hope of a turnaround any time soon.

I see one very deep-underwater, perma-bull commentator hoping history will repeat on their catastrophic bet in another milk company... I highly doubt a takeover offer would be very pleasant for them (or any deep underwater holders) as they would end up having to actually crystallise their losses and never see the possibility of a turnaround (which they keep insisting will happen...).

If I was a betting person, I'd say the current share price of $8.50 would be a good start (and may not be the first bid). However, I highly doutb any bid is forthcoming, with not all of the skeletons out of the closet and clear, systemic issues all over the show with A2M.

I hate to see a successful NZ company go down the tubes like this, but reality has to be faced at some point - fair value according to current metrics and the market is more than likely lower from here.