Dairyworks isn't selling. So its irrelevant what it cost or what value it sits at in the books. Talbot I reckon is fair to say is worthless.
Things are only worth what someone is willing to pay.
Yesterday the market values SML at NZ$178m
Bright / A2 own NZ$105m. So for Nz$73m the two of them could pick off small shareholders. (or they just pick off 16% for Nz$29m to give them 75% of vote required to pass a special resolution.
Debt excluding bonds was $243m.
A2M Price at posting:
$6.13 Sentiment: Buy Disclosure: Held
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