@huninni - i hope you're right
some here would do well to read the scheme booklet released by PDL - it details many things - pros n cons and a thorough analysis of the standalone vs combined entities.....!
odds are there's simply no backing out now!! PDL CEO already paid half his extra "$2.2m retention bonus+$800k extra discretionary bonus" which was 50% paid to him ON 30 SEP!!! (guess they were super confident it was going through - funny that???!!)
as much as some peeps here may not want this t/o to proceed, its what the substantial holders want that matters - esp on PDLs side of the fence:
Pendal subst. holders:
PPTs:
notice any similarities??
what would they prefer??? the PDL t/o not proceed, they miss out on $1.615 PER SHARE in PURE CASH and then watch while the value of their PDL investment plummets??,
or
HAVE THE BEST OF BOTH WORLDS - TAKE $1.615 IN PURE CASH, GET A $19-23 COST BASE IN PPT FOR THEIR PDL SHARES AND THEN SIT BACK AND LET THE MKT DO ITS THING AND NORMALISE TO >$30 AND MAKE A KILLING ON BOTH THE OLD AND NEW PPT SHARES?!!
AND MAYBE LOBBY THE NEW GROUP TO SELL THE CORP TRUST SIDE TO HIGHEST BIDDER POST T/O ANYWAY??
not much thought req'd is there??? bye bye regal....thanks for allowing me to sell at near $30 and go even more extreme into PDL - almost picked the $3.80 bottom on the purge ($15.3 PPT equiv cost base)!!!
and for the DIE HARD sceptics - whats wrong with the below'?? (extract from scheme booklet):
all metrcis IMPROVE vs PPT standalone.....so?? if regal et al wanted PPT at $33, then naturally we should BEAT that over time...no?
what peeps fail to realise is that funds can be "migrated" over time into the higher margin equiv offering while shaving down duplicate headcount. this should naturally lift the sluggish margin from the PDL side and remove excess in that business...! the above is simple numbers, not enhanced versions of....plenty of scope to smash the combined metrics (imho)....
net assets of combined group >$2.5bn, so, using the current PPT's 1.6* price to book uplift, mkt cap could be ~$4bn on that same multiple, with ~110m new shares (rounded up) thats ~$36 per shares for the combined group - MOVE OVER REGAL'S PATHETIC $33 OFFER (DYOR)!!!!
1 mth to the PDL vote (no brainer), 2 mths to completion!!
bring it!!!
in the words of the terminator "ill be back".....!
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