About time - but they can just about cut and paste from their last Target Response...
Where the major argument mounted against the offer -valuation metrics:
EBIT /EV multiple fair value based on previous transactions in the sector median 8 times ...
Average $14.5m * 8 =$116m /137m soi = 84c Fair Value goal post
Conclusion: as we all know- Not a fair offer..opportunistic
But in the end it will come down to individual share holders- Colonial must have thought they could use the funds better now rather than staying in for the longer haul or alternatively act to attract a more fair and reasonable offer
PGR Price at posting:
51.3¢ Sentiment: Buy Disclosure: Held
