blackstone?s bid for valad headed higher?, page-6

this says it all really...

'One of the company's founders, Barry Wynne, whose investment in Valad was once valued at $10m, is likely to be paid only about $200,000 from the takeover offer, leaving him "severely underwhelmed".

Mr Wynne, who stood down from the company's board in 2006, said he believed the bid price was "totally unacceptable".

"It is highly disappointing for all the shareholders who have been there for the long haul," he said.

On the other hand, Orbis Australia managing director Simon Marais has purchased 21.8 million shares since the global financial crisis. These shares, worth about $25m when the shares were halted, are now valued at $39.2m.

"On the surface, it looks like a good deal. We just don't know what the detail is," Mr Marais said.'