PAA 0.00% 19.5¢ pharmaust limited

Ann: AGM Presentation, page-62

  1. 2,547 Posts.
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    Rest easy baulko. Frankly still to small and data not yet proven to a level to seriously interest BP. As to price, yes agree statistically 3-5 x MC is the sort of outcome but mainly due closer intrinsic value reflected in SP. In case of PAA very low MC suggest negotiated value would be significantly higher. Any hostile bid would likely be rejected (blocked) due the current narrow spread -most probably even at 30-40 cent this would simply serve to confirm holders of the real value. Still some way to go so don't eat those sandwiches just yet
 
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