Strauss how do you know it was a 200m??
Current market cap of 150m = 22c
Takeover market cap of 200m = 27.5c
This is a very cheap takeover bid with a 52 week high of 40c.
From previous takeovers from other companies, the company (PEM) should advise shareholders to take no action until they assess the offer and recommend an action for shareholders.
DYOR
Look at BBG driven by takeover bids!!