Have to agree that I felt this was sold well too cheaply (was expecting ~50% more), but thought that the takeover was a done deal
With ACC now voting against, it throws a small spanner in the works....I believe they need 75% of the vote, and with 6% out, there will be some nerves for a few more weeks.
The challenge is that mgmt seem distracted and growth (revenue and accounts) seems to have slowed and seemingly no progress in the catholic sector, so not sure if there will be any short term support if this falls over.....IMO the CEO needs to go if the scheme does not succeed (more so from the lack of growth, but also entertaining this lowball offer)
PPH Price at posting:
$1.14 Sentiment: Hold Disclosure: Held