io benchmark price, page-14

Plaino,

Given the current market I would think the offer would need to be north of $1.50 and this only covers current shareprice plus my expectations of a control premium. Someone may convince 50%+ of shareholders to accept at this level. Closer to $2.00 would have a high chance of success IMO.

It would be a shame if it happens in this range but people should be realistic given the current market and where UMC is currently placed in terms of development. A deal on rail access would lift my expectations of a higher takeover price.

Cheers, Tony.