Is the AND/MEP deal fair?

Is the AND/MEP deal fair?

I am of the view that the AND takeover is not a fair deal.

I have calculated the Value of Poochera based on 75% and 25% ownership of the asset and adjusted for ADN and MEP cash.

Divide value of asset by number of shares for each company and I get a ratio of 1.49! That's right 1.5. I have ignored value of ADN's other assets.

So is 1.15 shares a good deal? NOT for me. This is a significant discount when ADN should be paying a premium.

Telling investors that offer values Minotaur at 20.8 cents per share is insulting. It is based on ADN share price not the 75%/25% split of asset. I believe this information is irrelevant as the ration of asset ownership should be used to determine the offer.

I an very happy with MEP spinning off their assets into a an IPO. Breakaway owned Eloise tenements originally.

Everyone else on this thread seems very happy with offer of 1.15 ADN shares for each MEP share. I think ADN a stealing MEP!

I would like at least 1.5 ADN shares for my MEP shares - My family owns heaps of MEP. I have been a MEP holder since Prominent Hill days when MEP spun copper find to Oxiana.

What are other thinking?