i had read this AFR article just before seeing your post. What struck me is that PAC seems to have always been the ultimate insiders' company. We know the value of the business because we see the track record, and we believe we knows the value of the underlying investments. Likewise RPL, PPT and GQG. But apart from insiders, who is going to buy the company? That's the reality check to a higher bid emerging, or a bidding war breaking out.
I think it's either going to be GQG or RPL winning this prize. If the former, it will likely be funded in part through GQG scrip, and if the latter it will be a deal like the one they have put forward. Maybe RPL will let us have the fully franked dividend on top of their current cash plus GQG shares offer. A fully franked dividend as a kicker.
PAC Price at posting:
$10.55 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)