Mozart, agree with your post in principle. But in my view a $5 offer would be unacceptable.
To Matt's point, this is a negotiation being conducted by an opportunistic and calculating party. Which is fine. What isn't fine is that the people charged with protecting the interests of all shareholders, the board, have failed to do so.
So it's up to us to independently understand that Wah Nam will try to buy this company for as little as possible. And it's up to us to decide what it is actually worth. A few months ago Wah Nam thought it was worth more than $5 and the board thought it worth a lot more.
During the GFC was BRM worth $0.50? Some people thought so. And they sold. Yes, some sold out of necessity. But others just sold. Now, most shareholders knew that $0.50 was a joke and they didn't buy into that nonsense.
The money being offered now is a joke. $5 is also a joke. It's a joke that Wah Nam is hoping we take seriously. Something they would find very funny indeed.
Does Wah Nam really think that BRM is worth less now than when they made their first offer? I don't think so.
Do they think the potential is less? No they don't.
Are they negotiating? Yes they are. Will you accept a joke offer like $5 because you've forgotten what the company is worth? They only want you to forget for a few seconds... just long enough to sign on the dotted line and transfer your wealth to them.
BRM Price at posting:
$2.30 Sentiment: Hold Disclosure: Held
