My shares in arcadium got taken over at a 90%+ premium, because they were well below replacement costs for the assets.
CRN could easily see a 100% premium based on the value of the assets. At the end of the day, if CRN can organise appropriate levels of debt that's a far better outcome than a 30% premium on a share price. Therefore the bidder is competing with those alternatives, not a defacto 20 or 30% market premium.
Once again Borano has absolutely 0 clue what he is talking about.
CRN Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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