Good point.
But pretty hard for a CFO of an acquirer to justify paying above market cap for assets. If I were CFO of another company, I'd be recommending a lowball offer, and see how things unfold. This is the opening salvo IMHO. You only need 2 interested parties for price discovery.
Also, pretty happy with the dividend given market cap (annualied, it much better than a deposit account). I am in the buy queue.
Ann: Company Update, page-12
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