where to from here, page-59

I find it very interesting that Cam says that WES paid too much for the Coles acquistion but he thinks this all fine.

If WES paid too much for coles then surely a rational price to pay for WES is well below book value.

Wes is trading at about $37 and their book value is circa $26. If they paid too much for Coles then surely a rational price is less than $26.

Cam, you have said that WES paid too much for coles, but at the current prices you are telling shareholders to pay even more than the overpriced acquition. I hope others see the serious holes in this arguement!!!!

Cheers