"Our analysis of peer group multiples indicates a combination with Blake has the potential to immediately rerate 3PL’s share price to an estimated indicative range of $2.36 – 3.22, being 1.8 – 2.4x IXL’s offer"
Would be great but why exactly would 3PL immediately rerate from 3x sales to 6x? Would love for Virb to expand on this a bit.
"The work done by Viburnum to facilitate this alternative pathway is to the benefit of all 3PL shareholders. We will seek re-imbursement from 3PL for reasonable out-of-pocket costs incurred in relation to the Blake letter and term sheet"
If the SP shoots to $3 within 3-4 months I'm happy to buy them a steak dinner
Let's see what IXL and BY come back with but these guys might just walk away. It's pretty clear Virb want a LOT more than what was previously offered. I'm definitively in the same camp
3PL Price at posting:
$1.38 Sentiment: Buy Disclosure: Held
