dwuuuu,
Why would NAB want the deal to proceed? I see two major issues from an institutional perspective:
1. The deal as it stands undervalues the asset. They are capable of comparing transaction and trading multiples.
2. Institutional investors are smart enough to understand that an asset sale is a poor outcome relative to a takeover of the entire company. They will have no interest in holding shares of a thinly traded cash box. They understand that a dollar in their hands is worth a dollar, yet a dollar in the post sale company will be worth at maximum 80 cents.
If you believe otherwise, I suggest you start loading up on the stock. At 25.5 cents, you clearly will be the only one doing so.
The price action seems to be indicative of a deal that will be voted down.
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so where are we actually at?, page-13
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Last
$1.06 |
Change
-0.015(1.40%) |
Mkt cap ! $410.3M |
Open | High | Low | Value | Volume |
$1.07 | $1.07 | $1.03 | $1.638M | 1.561M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 99269 | $1.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.06 | 1182 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 99269 | 1.055 |
2 | 11923 | 1.050 |
3 | 26424 | 1.045 |
5 | 15931 | 1.040 |
3 | 11812 | 1.035 |
Price($) | Vol. | No. |
---|---|---|
1.060 | 1182 | 2 |
1.065 | 692 | 1 |
1.070 | 12312 | 2 |
1.075 | 14812 | 2 |
1.080 | 25803 | 4 |
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