what you cannot see(now), page-76

bigal36

"SLR's takeover offer back in Aug 2012 was at a 44% premium to its share price."

Whilst this is true there is some doubt about the share price truly reflecting market sentiment.

IGR was in all sorts of trouble at that time and the SP dropped significantly. It then held for quite some time at a price that most people would have argued was fair value.

As if by magic the SP suddenly dropped for no reason whatsoever. It was then that SLR launched the TO bid at the so called premium.

So all that "Mr Market is never wrong" piffle aside, there is quite a market segment out there that don't think that SLR overpaid for IGR because of the miraculous and unexplained sudden drop.

I'm not calling the write-down one way or another but it will be interesting to see if you are right or not.