Ann: Proposed merger between iProperty Group and REA Group, page-26

Agreed with you IPP has build itself to such a level as to gain recognition for its performance and thus its SP.
Morningstar has IPP valued at $4.50 and that was before the recent quarterly report which way outperform its expectation.REA itself is worth over $50 and IPP has a bigger potential market and less competition than REA. IPP has potential to run hard for the next 2 years and its SP will follow suit. The bid is nowhere near this and there is no premium build into the bid. For the directors to accept this is an injustice to the shareholders, they would have to do better than that. I thought a SP of $5 has a bit of premium, at the current bid price, the directors are not doing any justice to the shareholders. I do not know how the directors can look their shareholders in the eyes. The bid is shameless and opportunistic and likewise the directors will have a look into the mirror at themselves.