break up value, page-17

MYR may have next to no breakup value.

Their leases are a liability, not assets. MYR will have other liabilities such as recreation and long service leave and outstanding bills.

Stock on hand would be liquidated well below cost.

The Yanks with their local associates took all the value out of Australia when they sold off the properties and transferred $1.5 billion into secret offshore accounts.

This was huge heist right before the eyes of ASIC.

When will Jenifer provide some satisfaction to the dissatisfied MYR shareholder bunnies taking up the IPO?

Watch for store downsizing to come and then closures.

Thanks ASIC, the top end of town (brokers, lawyers, accountants, banksters, private equity spivs) for bringing to Australia the typical rip offs that Bernie Madoff gave to his clients. You can be sure that local hangers on were well compensated for the deal making.

What I find really disgusting is the lack of analysis of this deal by the financial journos - what useless BNJKJKGHGF.

$4.10 yeah, sure. Soon $1.50 will look good.

loki (disgusted onlooker)