price slide, page-113

Lol, Cmon. Graham is probably writing it up on the SUX blog, doing the hard work so we don't have to.

I did notice the exchange for PPX shares in the SPS Trust ANN. It seemed somehow... emphasised. And upon it, PPX share price seemed to fall- coincidence or not, who knows.

A question: if PE have put in an indicative offer, how come they have only offered around $21 for PXUPA? As we know, under takeover, PXUPA gets way more than that. Their offer doesn't fit any of the parameters. Anyone have any explanation as to what they got around to make such an offer?

Another question is, how could PXUPA be folded into PPX shares, if PE has made cash offers? I thought this meant Paperlinx would be going private. If there isa a cash offer, then there will be no such thing as PPX shares- or PXUPA.